On 1 jantary 2000 a company obtains a small bottling and labeling machine from a leasing company under a lease. The cash price of the machine was Ris 7,710 while the amount to be paid was R5 10,000 . The azreement; required the imimediate payment of a R 52,000 deposit with the balance being settled in four equal annual Instaliments commancing on 31 December 2000 . The charge of Ps 2,290 represents interest of 15% per annum, calculated on the remalnine balance of the liability during each accounting perlod. Depreciation on the plant is to be provided for at the rate of 209 . per annum on a straizht line basis assuming a residual value of: nil. Ownership of asset is expected to be transferred to fessee at the end of lease term. Requirct: a) Calculate lease payments (LP) and PV of LP. b) Preparejoumal entries in the books of lessee for the yeat ended 31-12-2000 and 31-12-2001, c) Prepare extracts from statement of financial position-as on 31 December 2001 and statement of comprehensive income for the year then ended Including comparatives