Malco Enterprises issued $$23,000$ of common stock when the company was started. In addition, Malco borrowed $$49,000$ from a local bank on July $1,$ Year $1.$ The note had a $6$ percent annual interest rate and a one$-$year term to maturity. Malco Enterprises recognized $$86,800$ of revenue on account in Year $1$ and $$98,200$ of revenue on account in Year $2.$ Cash collections of accounts receivable were $$74,300$ in Year $1$ and $$84,500$ in Year $2.$ Malco paid $$50,700$ of other operating expenses in Year $1$ and $$58,000$ of other operating expenses in Year $2.$ Malco repaid the loan and interest at the maturity date.