There are two different questions on this post here is #1

Here is #2

Bond Discount, Entries for Bonds Payable Transactions On July 1,20%1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $3,000,000 of 10 -year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $2,626,135. Interest on the bonds is payoble semiannually on December 31 and June 30 . The fiscal year of the company is the calendar year. Required: For all journal entries, if an amount box does not require an entry, leave it blank. 1. Journalize the entry to record the amount of cash proceeds from the issuance of the bonds on July 1,20Y1. 2. Journalize the entries to record the following: a. The first semiannual interest payment on December 31,20y1, and the amortization of the bond discount, using the straight-line method, Round to the nearest dollaf b. The interest payment on June 30,20Y2, and the amortization of the bond discount, using the straight-line method. Round to the nearest dollar. 3. Determine the total interest expense for 20ys. Round to the nearest dollar. 3. Determine the total interest expense for 20Y1. Round to the nearest dollar. 4. Will the bond proceeds always be less than the face amount of the bonds when the contract rate is less than the market rate of interest? 5. Compute the price of $2,626,135 recelved for the bonds by using the present value tables in Appendox A. Round your PV values to 5 decimal places and the final answers to the nearest dollar, Your total may vary slightly from the price given dve to rounding differences. Horizontal Analysis of Income Statement For 20Y2, Macklin Inc, reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: Required: 1. Prepare a comparative income statement with horizontal analysis for the two-vear period, using 20y1 as the base year, Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place: Macklin Inc. Comparative Income statement For the Years Ended December 31,20Y2 and 20Y1 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20y1 as the base year. Use the minus sign to indicate a decrease in the "Increase/(Decrease)" columns. If required, round percentages to one decimal place. 2. Net income has from 20r1 to 20 2. Sales have ; however, the cost of goods sold has ot a faster rate than sales, causing the gross profit to