a) Brooklyn Inc. offers boat tours down the Hudson River. The company has signed a lease for a tour boat with an expected lifespan of seven years, no estimated salvage value, and a fair market value of $225,000. The terms of the lease are as follows: 1. The lease term begins on January 1, 2018, and runs for 5 years. The lease requires payments of $53,000 at the beginning of each year. The lease payment includes $3,000 for maintenance and insurance costs. At the end of the lease term, Brooklyn will be keep/own the tour boat. - The lessor's implied interest rate is 6%, and Brooklyn uses straight-line depreciation for similar equipment. Brooklyn Inc. follows ASPE. Brooklyn's year-end is December 31. REQUIRED: a. Perform all three tests to determine the nature of this lease, and indicate whether the lease is to be considered a capital or operating lease. (3 Marks) b. Prepare a lease amortization schedule. (1 Mark) c. Prepare all the journal entries on Brooklyn's books that relate to the lease for the following dates: January 1, 2018 (2 Marks) December 31, 2018