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Abbott Equipment leased a protein analyzer to Werner Chemical, Incorporated, on September 3 0 , 2 0 2 4 . Abbott purchased the machine from
Abbott Equipment leased a protein analyzer to Werner Chemical, Incorporated, on September
Abbott purchased the machine from NutraLabs, Incorporated, at a cost of $ million.
The fiveyear lease agreement calls for Werner to make quarterly lease payments of $ payable each September December March and June with the first payment on September
Abbott's implicit interest rate is The useful life of the equipment is five years.
Note: Use tables, Excel, or a financial calculator. FV of $ PV of $ FVA of $ PVA of $ FVAD of $ and PVAD of $
Required:
What pretax amounts related to the lease would Abbott report in its balance sheet on December
What pretax amounts related to the lease would Abbott report in its income statement for the year ended December
What pretax amounts related to the lease would Abbott report in its statement of cash flows for the year ended December
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