6 2.85 points Problem 15-28 (Algo) Finance lease; lessee; financial statement effects [LO15-2, 15-8] Werner Chemical, Inc., leased a protein analyzer on September 30, 2021. The five-year lease agreement calls for Werner to make quarterly lease payments of $371,970, payable each September 30, December 31, March 31, and June 30, with the first payment at September 30, 2021. Werner's incremental borrowing rate is 12%. Amortization is recorded on a straight-line basis at the end of each fiscal year. The useful life of the equipment is five years. (EV of $1. PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the present value of the lease payments at September 30, 2021. 2. What pretax amounts related to the lease would Werner report in its balance sheet at December 31, 2021? 3. What pretax amounts related to the lease would Werner report in its income statement for the year ended December 31, 2021? 4. What pretax amounts related to the lease would Werner report in its statement of cash flows for the year ended December 31, 2021? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 Determine the present value of the lease payments at September 30, 2021. What pretax amounts related to the lease would Werner report in its balance sheet at December 31, 2021? What protax amounts related to the leace would Worner report in its income statement for the year ended December 21 6 * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. 2.85 points Req 1 to 3 Req 4 Determine the present value of the lease payments at September 30, 2021. What pretax amounts related to the lease would Werner report in its balance sheet at December 31, 2021? What pretax amounts related to the lease would Werner report in its income statement for the year ended December 31, 2021? (Round your intermediate and final answers to nearest whole dollar.) 1. Present value of lease payments at Sept. 30, 2021: $ 5,533,894 2. Balance of lease liability at Dec. 31, 2021: $ 5,328,034 x Balance of right-of-use asset at Dec. 31, 2021: $ 5,257,285 3. Total expenses related to lease for the year ended Dec. 31, 2021: $ 166,020 < Req 1 to 3 Req 4 > Show less 6 2.85 points 2. wnat pretax amounts related to the lease would werner report in its balance sheet at December 31, ZUZI? 3. What pretax amounts related to the lease would Werner report in its income statement for the year ended December 31, 2021? 4. What pretax amounts related to the lease would Werner report in its statement of cash flows for the year ended December 31, 2021? > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 to 3 Req 4 What pretax amounts related to the lease would Werner report in its statement of cash flows for the year ended December 31, 2021? (Round your intermediate and final answers to nearest whole dollar.) Finance lease Interest portion Principal portion $ $ 743,940 cash outflows from investing activity $ 159,841 584,099 cash outflows from operating activity cash outflows from investing activity < Req 1 to 3 Req 4 >