Business, 17.04.2021 23:30 jen8268

On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $100,000 face value, fouryear term note that had an 8 percent annual interest rate. The note is to be repaid by making annual cash payments of $30,192 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $52,000 cash per year. Required
a. Prepare an amortization schedule for the four-year period. Round answers to nearest whole dollar.
b. Organize the information in accounts under an accounting equation.
c. Prepare an income statement, a balance sheet, and a statement of cash flows for each of the four years.
d. Does cash outflow from operating activities remain constant or change each year? Explain.

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On January 1, Year 1, Brown Co. borrowed cash from First Bank by issuing a $100,000 face value, four...

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