Please do the following

LO 10-4 Exercise 10-148 Straight-line amortization of a bond discount Frey Company issued $300,000 face value of bonds on January 1, 2016. The bonds hada6e stated rate of interest and a 10-year term. Interest is paid in cash annually, beginning r 31, 2016. The bonds were issued at 98. Frey uses the straight-line method of amortization. Required a. Use a financial statements model like the one shown below to demonstrate how (1) the Jama ary 1, 2016, bond issue and (2) the December 31, 2016, recognition of interest expense, in- cluding the amortization of the discount and the cash payment, affect the company's financial statements. Use + for increase,-for decrease, and NA for not affected. Event No. Assets = Liab. + Equity- Rev. - Exp. = Net Inc. ash Flow b. Determine the amount of interest expense reported on the 2016 income statement. c. Determine the carrying value (face value less discount or plus premium) of the bond lability as of December 31, 2016. d. Determine the amount of interest expense reported on the 2017 income statement. e. Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31, 2017