A partial amortization schedule for a 5-year note payable that Mabry Company issued on January 1, Year 1, is shown as follows. Accounting Period Principal Balance January 1 Applied Year 1 $139,000 Cash to Applied to Payment Interest Principal $35,736 $12,510 $23,226 Year 2 115,774 35,736 10,420 25,316 Year 3 90,458 35,736 8,141 27,595 Required a. What rate of interest is Mabry Company paying on the note? b. Using a financial statements model like the one shown, 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. c. If the company eamed $95,300 cash revenue and paid $57,180 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. ce (2) Cash flow from operating activities for Year 1. (3) Cash flow from financing activities for Year 1. d. 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 Required Required Required A B C D Using a financial statements model like the one shown, record the appropriate amounts for the following two events: (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flows column, designate the cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or if there is no effect, leave the cell blank. Not all cells will require entry.) (1) January 1, Year 1, issue of the note payable. (2) December 31, Year 1, payment on the note payable. MABRY COMPANY Horizontal Statements Model Balance Sheet Income Statement Statement Event of No. Assets Liabilities + Stockholder's Equity Revenue-Expense = Net Income Cash Flow 1. 2. < Required A Required C > Show less A