Instructions:1. Prepare a mortgage amortization schedule for the 5-year life of

Instructions:1. Prepare a mortgage amortization schedule for the 5-year life of the mortgage.2. Assuming the equipment is expected to last for five years (with zero salvage value) determine the net amount at which the equipment will be reported on the balance sheet at the end of each year for its 5-year life using straight-line depreciation.3. Compare the liability amount to be disclosed on the balance sheet at the end of each year for the 5-year mortgage term with the asset amount to be disclosed at the end of the same years. Identify the primary reasons for the differences each year.