Problem 10-13A Hetty Grey has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2016, Hetty was loaned $225,000 at an annual interest rate of 7%. The loan is repayable over 5 years in annual installments of $54,875, principal and interest, due each June 30. The first payment is due June 30, 2017. Hetty uses the effective-interest method for amortizing debt. Her ski hill company's year-end will be June 30. Prepare an amortization schedule for the 5 years, 2016-2021. (Round answers to o decimal places, e.g. 125.) Interest Cash Principal Period Balance Reduction Payment Expense July 1, 2016 June 30, 2017 June 30, 2018 June 30, 2019 June 30, 2020 June 30, 2021 Total Amount may be off due to rounding