Year 1 Year 2 Year 3 January 1 $270,000 249,516 227,803 $36, 684 36,684 36,684 $16,200 14,971 13,668 $20,484 21, 713 23,016 Required a. Using a financial statements model like the one shown next, record the appropriate amounts for the following two events: (1) January 1. Year 1, Issue of the note payable. (2) December 31, Year 1. payment on the note payable. b. If the company earned $76,000 cash revenue and paid $52,000 in cash expenses in addition to the interest in Year 1, what is the amount of each of the following? (1) Net income for Year 1. (2) Cash flow from operating activities for Year 1. (3) Cash flow from financing activities for Year 1. c. What is the amount of interest expense on this loan for Year 4? & Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required If the company earned $76,000 cash revenue and paid $52,000 in cash expenses in addition to the interest in Year 1, what is the amount of Cash flow from operating activities for Year 1? (Amounts to be deducted should be indicated with minus sign.) Cash flows from operating activities Inflow from customers Outflow for expenses 76,000 (52,000) Net cash flow from operating activities 24,000 A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next: Accounting Period Principal Balance January 1 $270,000 249,516 227,803 Year 1 Year 2 Year 3 Cash Payment $36, 684 36,684 36,684 Applied to Applied to Interest Principal $16,200 $20,484 14,971 21, 713 13,668 23,016 Required a. Using a financial statements model like the one shown next, record the appropriate amounts for the following two events: (1) January 1, Year 1, issue of the note payable (2) December 31, Year 1, payment on the note payable. b. If the company earned $76,000 cash revenue and paid $52,000 in cash expenses in addition to the interest in Year 1, what is the amount of each of the following? (1) Net income for Year 1. (2) Cash flow from operating activities for Year 1. (5) Cash flow from financing activities for Year 1. c. What is the amount of interest expense on this loan for Year 4? Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required 81 Required B2 Required B3 Required C What is the amount of interest expense on this loan for Year 4? (Round your answer to the nearest dollar amount.) Interest expense