A partial amortization schedule for a 10-year note payable issued on January 1, Year 1, is shown next. Principal and interest are paid in installments annually on December 31.

Accounting Period	Principal Balance January 1	Cash Payment	Applied to Interest	Applied to Principal
Year 1	$390,000	$50,507	$19,500	$31,007
Year 2	358,993	50,507	17,950	32,557
Year 3	326,436	50,507	16,322	34,185

Required

1. (This part has been omitted)
2. If the company earned $100,000 cash revenue and paid $64,000 in cash expenses in addition to the interest in Year 1, what is the amount of each of the following?
   1. (1) Net income for Year 1.
   2. (2) Cash flow from operating activities for Year 1.
   3. (3) Cash flow from financing activities for Year 1.
3. What is the amount of interest expense on this loan for Year 4? (Hint: from the information included in the amortization table, you need to determine the interest rate on the note)