1& 10.1-10.5 Saved Help Save & E 0 Required information The following information applies to the questions displayed below. On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $109,000 face-value, four-year term note that had an 7 percent annual interest rate. The note is to be repaid by making annual cash payments of $32,180 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $61,000 cash per year. Required a. Prepare an amortization schedule for the four-year period. (Round your answers to the nearest dollar amount.) BROWN CO Amortization Schedule $109,000, 4-Yr. Term Note, 7% Interest Rate Prin. Bal. on Jan. 1 Cash Pay. Dec. 31 Applied to Interest Applied to Principal Prin. Bal. End of Period Year Year 1 Year 2 Year 3 Year 4