Davidson, Incorporated leased a machine from Barwick Corporation. Barwick completed construction of the machine

on January $1,2024.$ The lease agreement for the $$6,000,000($fair value and present value of the lease payments$)$

machine specified $4$ equal payments at the end of each year. The useful life of the machine was expect to be $4$ years

with no residual value. Barwick's implicit interest rate was $9\%.$

Prepare an amortization schedule for the $4-$year term of the lease.

Record the first lease payment on December $31,2024.$

Record the amortization of right$-$of$-$use asset on December $31,2024.$

Indicate the amounts related to the lease reported on the year$-$end balance sheets and income statements.