A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next Accounting Period Year 1 Year 2 Year 3 Principal Balance January 1 $380,000 349,788 318,065 Cash Payment $49,212 49,212 49,212 Applied to Interest $19,800 17,489 15,903 Applied to Principal $38,212 31,723 33,309 Required a. Using a financial statements model, 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 $98,000 cash revenue and paid $63,000 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? Complete this question by entering your answers in the tabs below. Required A Required 1 Required B2 Required Required Using a financial statements model, record the appropriate amounts for the following two events: (1) January 1, Year 1, Issue of the note payable. (2) December 31, Year on the note payable (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), Investing activity (IA), or financing activity (FA). No require input. Amounts to be deducted and cash outflows should be indicated with a minus sign) Financial Statements Model Balance Sheet Event No. Ansets Stockholders Equity Revenue Income sta This is a numero cell, so please of Gash Expert enter numbers only ws 380,000 (19.000) (10,000 (49.212) 1 Liabilities 380,000 (30.212) 380,000 - (49,212) . 2 . (19.000) . Required l > Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required If the company earned $98,000 cash revenue and paid $63,000 in cash expenses in additi the amount of Net income for Year 1? Cash Expenses Total expenses 0 $ 0 Required A Required B2 > Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required C If the company earned $98,000 cash revenue and paid $63,000 in cash expenses in addition to the int the amount of cash flow from operating activities for Year 1? (Amounts to be deducted and cash outflo with minus sign.) Cash flows from operating activities: Net cash flow from operating activities $ Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required C If the company earned $98,000 cash revenue and paid $63,000 in cash expenses in addition the amount of Cash flow from financing activities for Year 1? (Amounts to be deducted shoul Cash flows from financing activities: Net cash flow from financing activities $ Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required What is the amount of interest expense on this loan for Year 4? (Round your answer to the near Interest expense