Check my work 3 On June 30, 2018, Georgia-Atlantic, Inc., leased warehouse equipment from IC Leasing Corporation. The lease agreement calls for Georgia-Atlantic to make semiannual lease payments of $562,907 over a three-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018. Georgia Atlantic's incremental borrowing rate is 10%, the same rate used to calculate lease payment amounts. IC purchased the warehouse from Builders, Inc.. at a cost of $3 million. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 10 points Required: 1. What pretax amounts related to the lease would IC report in its balance sheet at December 31, 2018? 2. What pretax amounts related to the lease would IC report in its income statement for the year ended December 31, 2018? eBook (For all requirements, enter your answers in whole dollars and not in millions. Round your final answers to nearest whole dollar) Hint 1. Pretax amount of net receivable 2. Pretax amount of interest revenue $3,000,000 Print $1,996,041 References