Eastern Edison Company leased equipment from Hi$-$Tech Leasing on January $1,2022.$

Lease term $3$ years

Annual payments $$80,000$ on January $1$ each year

Life of asset $3$ years

Implicit interest rate $8\%$

PV$,$ annuity due, $3$ periods, $8\%2\mathrm{.}78326$

PV$,$ ordinary annuity, $3$ periods, $8\%2\mathrm{.}57710$

Hi$-$Tech's cost of the equipment $$222,661$

There is no expected residual value.

Assume a December $31$ year$-$end. Round your answers to the nearest whole dollar amounts.

a$.$ Show the appropriate journal entries for $1-1-22$ for Hi Tech Leasing

b$.$ Show the appropriate journal entry for $12-31-22$ for Hi Tech Leasing

c$.$ For Hi Tech Leasing's $2022$ Statement of Cash Flow, what would be any cash flows shown on the face of the statement associated with the lease and their classification as operating, investing, or financing?

d$.$ What if Hi Tech manufactured the equipment at a cost of $$175,000$ then was leasing to Eastern Edison using all the terms above. Show the appropriate journal entries for $1-1-22$ in this what if scenario.