Using a financial statements model, record the appropriate amounts for the following two events:

$(1)$ January $1,$ Year $1,$ issue of the note payable.

$(2)$ December $31,$ Year $1,$ payment on the note payable.

If the company earned $$70,000$ cash revenue and paid $$49,000$ in cash expenses in addition to the interest in Year $1,$ what is the amount of each of the following?

$(1)$ Net income for Year $1.$

$(2)$ Cash flow from operating activities for Year $1.$

$(3)$ Cash flow from financing activities for Year $1.$

What is the amount of interest expense on this loan for Year $4?$