BACKGROUND On December 31, 2043, Lopez Company (lessee) signed a 3-year, noncancelable lease for the use of manufacturing equipment now owned by Zinger, Inc. (lessor). The lease expires December 31, 2046 and has the following terms: Annual contractual payments of $16.664 at the end of each year. The first payment is due December 31, 20Y3. No down payment; No purchase option. The asset's FMV at 12/31/3 is $60,000. Lopez does not guarantee any residual value at 12/31/46. Lopez can borrow at 10% per year for a 3-year loan; Lopez is unaware of Zinger's 8% desired return rate. The estimated useful life of the asset is 4 years. REQUIRED Use the following templates to show how the above lease transaction impacted Lopez's cash flows, income statement, and balance sheet for the years 20Y3-20Y6. Round all amounts to the nearest whole dollar The impact on cash flows should properly categorize cash flows as operating, investing, or financing. The impact on the balance sheet should reflect cumulative changes to the statement. These amounts will not necessarily equal the December 31, 20YX ending balances in the balance sheet accounts. It should also separate debt into current and a non-current amounts. Some lines might not have answers. List account names or transaction descriptions in the first column and amounts in the remaining columns ASSETS = LIABILITIES EQUITY + + + IMPACT ON CURRENT PERIOD CASH FLOW 20Y3 2014 2045 2046 Net Impact on Current Period Cash Flow IMPACT ON CURRENT PERIOD EARNINGS 20Y3 20Y4 2045 2046 Net Impact on Current Period Earnings CUMULATIVE IMPACT ON BALANCE SHEET ELEMENTS ASSETS: 20Y3 2014 2045 2046 Cumulative Change in Assets LIABILITIES + EQUITY: Cumulative Change in Liabilities + Equity