A six-year capital lease entered into on January 1, 2016. specified equal mini awal payments due on December 31 each year. The first minimum annual lease payment, paid on December 31, 2016 consists of which of the following? Interest expense Lese lability Yes No On 1/1/19, Petry Co. leased equipment to Dish Co. for 10 years the wetu te of the wat)Petry had purchased the equipment for $5,200,000 Annual payments of $828,000 begin on 7/1/19. Assume that the present value of these payments 8X is $6,000,000 If this is a sales type lease, what amount of profit should Petry record for year ended 12/31/1977 $800,000 $1,200.000 d. $1.080.000 e. None of the above On 7/1/16, Ship leased office space to Shore for 10 years at $30,000 per month. Depreciation is $30,000 per year straight line What is Ship's Income (revenue minus expenses) in 2016 for this operating lease. a. $180,000 b. $168,000 c. $165,000 d. $138,000