P9-75A. (Learning Objectives 2, 5: Analyzing a company's long-term debt; reporting longterm debt on the Balance Sheet [effective-interest method]) The notes to the Helping Charities' financial statements reported the following data on December 31, Year 1 (end of the fiscal year): Helping Charities amortizes bonds by the effective-interest method and pays all interest amounts at December 31. Requirements 1. Answer the following questions about Helping Charities' long-term liabilities: a. What is the maturity value of the 7% bonds? b. What are Helping Charities' annual cash interest payments on the 7% bonds? c. What is the carrying amount of the 7% bonds at December 31 , year 1 ? 2. Prepare an amortization table through December 31 , Year 4 , for the 7% bonds. The market interest rate on the bonds was 8%. (Round all amounts to the nearest dollar.) How much is Helping Charities' interest expense on the 7\% bonds for the year ended December 31, Year 4 ? 3. Show how Helping Charities would report the 7% bonds payable and the 6% notes payable at December 31 , Year 4