49. If Lizard Inc., a lessee, treats a 5-year le rather than as an operating lease: A. it will have greater equity at lease inception B. its operating income will be less in the first year of the lease. C. its CFO will be greater and CFF will be less in the second year of the lease. 50. How should an analyst most appropriately adjust the financial statements of a firm that uses operating leases to finance its plant and equipment? A. Increase liabilities. B. Decrease long-lived assets. C. Decrease shareholders' equity