Business, 23.07.2019 16:10 synite

Abbott equipment leased a protein analyzer to werner chemical, inc. on september 30, 2018. abbott purchased the machine from nutra labs, inc., at a cost of $5.2 million. the five-year lease agreement calls for werner to make quarterly lease payments of $339,342, payable each september 30, december 31, march 31, june 30, with the first payment at september 30, 2018. abbot's implicit interest rate is 16%. (fv of $1, pv of $1, fva of $1, pva of $1, fvhd of $1 an pvad of $1) (use appropriate factor(s) from the tables provided.)
required:
1. what amounts related to the lease would abbott report in its balance sheet at december 31, 2018 (ignore taxes)?
2. what amounts related to the lease would abbott report in its income statement for the year ended december 31, 2018 (ignore taxes)?
3. what amounts related to the lease would abbott report in its statement of cash flows for the year ended december 31, 2018 (ignore taxes)?

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Abbott equipment leased a protein analyzer to werner chemical, inc. on september 30, 2018. abbott pu...

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