Malco Enterprises issued $$14,000$ of common stock when the company was started. In addition, Malco borrowed $$40,000$ from a local bank on July $1,$ Year $1.$ The note had a $7$ percent annual interest rate and a one$-$year term to maturity. Malco Enterprises recognized $$76,900$ of revenue on account in Year $1$ and $$89,200$ of revenue on account in Year $2.$ Cash collections of accounts receivable were $$65,300$ in Year $1$ and $$75,500$ in Year $2.$ Malco paid $$42,600$ of other operating expenses in Year $1$ and $$49,000$ of other operating expenses in Year $2.$ Malco repaid the loan and interest at the maturity date.

Required

Based on this information given above, record the events in the accounting equation and answer the following questions.

Note: Enter any decreases to account balances with a minus sign.

$\backslash$table$[[$MALCO ENTERPRISES$],[$Effect of Events on the Financial Statements$],[,$Balance Sheet$],[,$Assets,$=,$Liabilities,$+,$Stockholders' Equity$],[$Events$,$Cash,$+,\backslash$table$[[$Accounts$],[$Receivable$]],,\backslash$table$[[$Notes$],[$Payable$]],+,\backslash$table$[[$Interest$],[$Payable$]],,\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]]],[$Year $1],[1.$ Common Stock,$14,000,,,,,,,,14,000,,],[2.$ Loan,$40,000,,,,40,000,,,,,,],[3.$ Revenue,,,$76,900,,,,,,,,76,900],[4.$ Collections of Accounts Receivable,$65,300,,(65,300),,,,,,,,],[5.$ Operating Expenses,$(42,600),,,,,,,,,,(42,600)$