blossom ltd leased a microsurgical staple gun on january 1, 2024, from jimmy johnson surgical equipment ltd the three year lease contract called for monthly payments of 10,750 to be made at the end of each month the staple gun is expected to have a useful life of five years and no residual value the staple gun had cost jimmy johnson 300,000 to manufacture and would normally have sold for abot 450,000 the interest rate available to blossom ltd for equipment loans on the day the lease was signed was 4% blossoms management plans to return the staple gun to jimmy johnson at the end of the three year lease blossoms management has also determined that the present value of the minimum lease payments was 364,111 at the time the lease was entered into

1. determine the impact that the lease will have in the first month on the blossom's statement of financial position