Instructions: Answer each of the following questions by filling out the answer blanks below. There is one blank for each question. The answer for Question 1 goes in the first blank, for Question 2 in the second blank, and so on and so forth. Ensure that numerical responses are in comma format and are rounded to the nearest dollar. For example: 1; 50; 1,000; 150,000; 1,000,000; etc. Do not include symbols (i.e. $) or decimals in numerical answers. Other specific instructions might be present in the question, so make sure that you follow those as well if they are present. Failure to follow these instructions will result in answers being marked incorrect. While most answers will be numerical, some may be alphanumerical, meaning that you will include words and/or numbers. Brittany Medical manufactures lithotripters. Lithotripsy uses shock waves instead of surgery to eliminate kidney stones. St. Thomas Urologists Group, Inc. leased a lithotripter from Brittany on January 1, 2021. Brittany produced the lithotripter at a cost of $1.7 million. Depreciation and amortization is recorded by both companies at the end of the fiscal year on Dec. 31. Lease Description: Quarterly lease payments $130,516 due at beginning of each period Lease term 5 years (20 quarters) No residual value; no purchase option Economic life of lithotripter 5 years Implicit interest rate & lessee's incremental borrowing 12% rate Fair value of asset $2,000,000 1. How should this lease be classified by St. Thomas Urologists Group? 2. How should this lease be classified by Brittany Medical? 3. What is value of the lease receivable on Brittany's balance sheet on January 1, 2021? 4. By what amount will the lease payable on St. Thomas Urologists Group's balance sheet be reduced as a result of the second quarterly payment in 2021? 5. What amount of interest revenue will Brittany recognize on April 1, 2021? 6. On December 31, 2022, what amount of amortization will St. Thomas Urologists Group report as a result of this leasing agreement