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Assuming the lessee's accounting period ends on September 30, answer the following questions with respect to this lease agreement. (Round answers to decimal places e.g. 58,971) (1) What items and amounts will appear on the lessee's income statement for the year ending September 30, 20217 $ 20027 Insurance Expense $ 5217383 Depreciation Expense (2) What items and amounts will appear on the lessee's balance sheet at September 30, 2021 Balance Sheet (Partial) September 30, 2021 Current Liabilities: Lease Liability 42673 Long-term Liabilities: Lease Liability 207070 Non-current Assets: Leased Equipment 313043 (3) What items and amounts will appear on the lessee's income statement for the year ending September 30, 2022 $ 16614 Interest Expense $ 5217383 Depreciation Expense (4) What items and amounts will appear on the lessee's balance sheet at September 30, 2022? Balance Sheet (Partial) September 30, 2022 Current Liabilities: 46086 Lease Liability Long-term Liabilities: Les Liability 161584 Non-current Assets Leased Equipment 313043 Show Attempt History Current Attempt in Progress The following facts pertain to a non-carcelable lease agreement between Alschuler Lenning Company and McKee Electronics bessee for a computer system Commencement date October 1, 2020 Lease term 6 years Economic life of leased equipment 6 years Fair value of asset at October 1, 2020 $313.043 Book value of asset at October 1, 2020 $280,000 Residual value at end of lease term -0- Lessor's implicitate BX Lessee's incremental borrowing rate Annual lease payment due at the beginning of each year, beginning with October 1.2020 $62.700 The collectibility of the lease payments is probable by the besser. The set will revert to the lessor at the end of the Sease term. The straight line depreciation method is used for all equipment, The following amortization schedule has been prepared correctly for use by both the lesser and the lessee in accounting for this lease. The lease is to be accounted for properly a finance lease by the less and as a sales-type kate by the lessor Lease Interest (8%on Unpaid Reduction of lease Balance of Lease Date Payment/Receipt Liability/Receivable Liability/Receivable Liability Receivable 10/01/20 5313.00 10/01/20 562.700 562,700 250,43 10/01/21 62.700 320,027 42.673 207,670 10/01/22 62.700 16.14 161.54 10/01/23 62,700 12.927 49.733 10/01/24 62,700 58.056 10/01/25 62.700 SOS $376.200 $63,157 $312043 46,086 52755 1945 4.444 0 (a) Your anwer is party.com Assuming the lessee's accounting period enda en ber 30, we following ustions with respect to the reement. Rendente (1) What items and amants will appear on the moment for the Warendon september 30, 2017 5 2007 $ Dw (2) White and mounts will appearance the September 2011 Balance Sheet (Partial)