Chapter 7 Homework a Saved Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate co 3 ! Required information Part 3 of 4 [The following information applies to the questions displayed below.] 12.5 On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $51,500 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 $15,204 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 $28,325 cash per year. points c. Prepare an income statement, a balance sheet, and a statement of cash flows for each of the four years. Chapter 7 Homework a Saved Chapter 7 Homework i Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate co 3 Year 3 Year 4 Statement of Cash Flows For the Year Ended December 31 Year 1 Year 2 Cash flows from operating activities Inflow from rental Outflow for interest Part 3 of 4 12.5 points 0 0 0 0 Net cash flow from operating activities Cash flows from investing activities Outflow to purchase land 0 0 0 0 Net cash flows from investing activities Cash flows from financing activities Outflow to repay loan 0 0 0 0 .. 0 Net cash flows from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance elle $ 0 $ 0 0 0