At January 1, 2018, Caf Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $20,000 beginning J thereafter through 2025. The equipment was acquired recently by Crescent at a cost of $171,000 (its fair value) and was expected to have a useful life of 12 years with no salvage value at the end of Its life. (Because the an expected residual value at the end of the lease term of $72 098 Crescent seeks a % return on tsease invest e mey the arrangement, the lease is deemed to be an operating lease. appropriate factorts) from the tables provided.) anuary 1, 2018, the beginning of the lease, and at each December 31 lease term is only 9 years, the asset does have (FV of S1, PV of S1, FVA of S1. PVA of S1, EVAD of $1 and PVAD of $3 (Use Required: effect of the lease on Caf Med's earnings for the first year (ignore txes? (Enter decreases with negative numbers) 2. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Caf Med (gnore taxes? For all requirements, round your Intermediate calculations to the nearest whole dollar amount 1. Effect on eamings 2. Lease payable balance (end of year) Right-of-use asset balance (end of year)