Malco Enterprises issued $$27,000$ of common stock when the company was started. In addition, Malco borrowed $$53,000$ from a local bank on July $1,$ Year $1.$ The note had a $5$ percent annual interest rate and a one$-$year term to maturity. Malco Enterprises recognized $$91,200$ of revenue on account in Year $1$ and $$102,200$ of revenue on account in Year $2.$ Cash collections of accounts receivable were $$78,300$ in Year $1$ and $$88,500$ in Year $2.$ Malco paid $$54,300$ of other operating expenses in Year $1$ and $$62,000$ 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$],[$Events$,$Balance Sheet$],[$Assets$,=,$Liabilities,$+,$Stockholders' Equity$],[$Cash$,+,\backslash$table$[[$Accounts$],[$Receivable$]],\backslash$table$[[$Notes$],[$Payable$]],+,\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]]],[\backslash$table$[[$Year $1]]],[1.$ Common Stock$],[\backslash$table$[[2.$ Loan$],[3.$ Revenue$]]],[\backslash$table$[[3.$ Revenue$],[4.$ Collections of Accounts Receivable$]]],[\backslash$table$[[4.$ Collections of Accounts Receivable$],[5.$ Operating Expenses$]]],[\backslash$table$[[5.$ Operating Expenses$],[6.$ Interest Accrued$]]],[\backslash$table$[[6.$ Interest Accrued$],[$Ending Balance$]]],[$Ending Balance,$0,+,0,=,0,+,,,+,0],[$Yeginning Balance $2],[$Beginning Balance,$0,,0,,0,,,0,,0],[\backslash$table$[[1.$ Revenue$],[2.$ Collections of Accounts Recaivable$]],,,,],[\backslash$table$[[2.$ Collections of Accounts Receivable$],[3.$ Operating Expenses $-]]],[\backslash$table$[[3.$ Operating Expenses $-],[4.$ Interest Accrued$]]],[4.$ Interest Accrued,,,,,$2,,,,,],[5.$ Payment of Interest & Principles,,,,,,,,,,$],[$Ending Balance,$0,+,0,=,0,+,,,1+,0]]$