Brita's Inc. offers student tours around Calgary. The company has signed a lease for a tour bus with an expected lifespan of seven years, no estimated salvage value, and a fair market value of a) b) $225,000. The terms of the lease are as follows: The lease term begins on January 1, 2020, and runs for 5 years. The lease requires payments of $53,000 at the beginning of each year. The lease payment includes $3,000 for maintenance and insurance costs. At the end of the lease term, Brita will be keep/own the tour bus. The lessor's implied interest rate is 6%, and Brita uses straight-line depreciation for similar equipment. Brita's Inc. follows ASPE. Brita's year-end is December 31. REQUIRED: a. Perform all three tests to determine the nature of this lease, and indicating the result of each, and whether the lease is to be considered a capital or operating lease. (3 Marks) b . Prepare a lease amortization schedule. (2 Marks) C. Prepare all the journal entries on Brita's books that relate to the lease for the following dates: January 1, 2020 (2 Marks) December 31, 2020 (3 Marks) c) Date Accounts DR CR