Alpha inc leased Food Product analyzer on september 30 2021. The five year lease agreement calls for Alpha to make quarterly lease payment of $411,125 payabpe each september and December 31 and March 31, and June 30 with the first payment at September 30,2021. Alpha incemental borrowing rate is 12%. Amoritazation is recorded on a straght-tline bases at the end of each fiscal year. The useful life of the equipment is five years. (FV of $1,PV of $1,FVA of $1,FVAD of $1, and PVAD of $1). Use appropriate factor(s) from the tables provided)

Need to complete the following:

1) Determin the present Value of the lease at September 30, 2021.

2) What pretax amounts related to the lease amount would Alpha report in its balance sheet at December 31,2021?

3) What pre-tax amounts related to the lease would Alpha in its income statement for the year ended December 31, 2021?

4) What pre-tax amounts related to the lease would Alpha report in its statement of cash flow for the year ended December 31, 2021?

Enter your answers in the table below

1 to 3 4

Determin the present value of the lease payments at sepetmer 30, 2021

What pre-tax amounts related to the lease would Alpha report in its balance sheet at December 31, 2021?

What pre-tax amounts related to the lease would Alpha reprot in its income statement for the year ended December 2021? (Round your intermidiate and final answer to the nearest whole number)

1) presten value of lease payment at sept. 30, 2021_______________

2) Balance of lease liability at December 31, 2021 __________________

Balance of right-of-use asset at December 31, 2021_________________

3) Total expense related to lease for the year ended December 31, 2021_____________

4) What pre-tax amounts related to the lease would Alpha reprot in its income statement for the year ended December 2021? (Round your intermidiate and final answer to the nearest whole number)

Finance lease ___________________

Interest Portion __________________

Principal Portion _________________