Abbott Equipment leased a protein analyzer to Werner Chemical, Inc. on September 30, 2018. Abbott purchased the machine from NutraLabs, Inc., at a cost of $6.4 million. The five-year lease agreement calls for Werner to make quarterly lease payments of $417,651, payable each September 30, December 31, March 31, June 30, with the first payment at September 30, 2018. Abbot's implicit interest rate is 12%. (FV 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. What pretax amounts related to the lease would Abbott report in its balance sheet at December 31, 2018?

2. What pretax amounts related to the lease would Abbott report in its income statement for the year ended December 31, 2018?

3. What pretax amounts related to the lease would Abbott report in its statement of cash flows for the year ended December 31, 2018?

Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 What pretax amounts related to the lease would Abbott report in its balance sheet at December 31, 201 statement for the year ended December 31, 2018? (Enter your answer in whole dollars. Round your inte answers to nearest whole dollar.) 1. $ 655,831 Lease receivable Interest revenue 2 $ 179,471 Req 1 and 2 Req 3 > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 What pretax amounts related to the lease would Abbott report in its statement of cash flows for the yea 2018? (Enter your answer in whole dollars. Round your intermediate and final answers to nearest whole $ 417,651 Finance lease Interest portion Principal portion significant noncash investing activity cash inflows from operating activities $ $ 179,471 GA 655,831 cash inflows from operating activities