At January 1, 2024, Caf Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $27,000 beginning January 1, 2024, the beginning of the lease, and on each December 31 thereafter through 2031. The equipment was acquired recently by Crescent at a cost of $198,000 (its fair value) and was expected to have a useful life of 13 years with no salvage value at the end of its life. Crescent records depreciation using the straight-line method. Because the lease term is only nine years, the asset does have an expected residual value at the end of the lease term of $46,826. Crescent seeks a 9% return on its lease investments. By this arrangement, the lease is deemed to be an operating lease. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: What will be the effects of the lease on Crescents (lessors) earnings for the first year (ignore taxes)? Note: Enter decreases with negative sign. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Crescent (ignore taxes)?