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Company A started at the beginning of 2019. They entered into a lease with Jan 1st as both inception and commenment date The Lease term

Company A started at the beginning of 2019. They entered into a lease with Jan 1st as both inception and commenment date The Lease term is as below - 5 yr non-cancellable - 5% interest rate - equal payment of $22916.51 at the end of each year - $1,000 bargining purchase option at the end of lease term Useful life of this asset is 6 years with 0 residual value

Tax rate 25%, 30% and 35% each of the year

Earnings before interest, amortization and taxes for each year
2019 $123,456
2020 $234,567
2021 $345,678

Requests a) Prepare amortization table for the lease b) Record all related Jes c) Complete the balance sheet

Balance Sheet
2019 2020 2021
Asset
Current Asset
Cash ? ? ?
Accounts Receivable 120000 100000 150000
Prepaid Expenses 8000 5000 2000
Future Tax Asset ? ? ?
Long-term Asset
?
Total Assets
Liabilities
Current Liabilities
Accounts Payable 100000 80000 90000
Unearned Revenue 10000 8000 12000
Future Tax Liabilities ? ? ?
Long-term Liabilities
?
Total Liability
Shareholders' Equity
Retained Earnings ? ? ?
Common Equity 200000 200000 200000
Total Shareholders' Equity
Total Liability and Equity

Please explain step by step with the formulas.

Please explain with details and formulas how you calculate Future Tax Asset, Long Term Liabilities, Cash.

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