1. Lease payable or Lease receivable
2. Interest payable or Interest receivable

On June 30, 2024, Blue, Incorporated leased a machine from Big Leasing Corporation. The lease agreement qualifies as a finance lease and calls for Blue to make semiannual lease payments of $265,966 over a four-year lease term, payable each June 30 and December 31, with the first payment on June 30, 2024. Blue's incremental borrowing rate is 8%, the same rate Big uses to calculate lease payment amounts. The lease agreement qualifies as a sales-type lease without selling profit. Depreclation is recorded on a straightline basis at the end of each fiscal year. Note: Use tables, Excel, or a financlal calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: 1. What would be the amounts related to the lease that Big would report in its balance sheet at December 31 , 2024? (Ignore income taxes.) 2. What would be the amounts related to the lease that Big would report in its income statement for the year ended December 31, 2024? (Ignore income taxes.) Note: For all requirements, round your Intermedlate and final answers to the nearest whole dollar amounts