On 2 January 20X4, Yvan Ltd., a public company, entered into a five-year equipment lease with Jeffery Leasing Inc. The lease calls for annual lease payments of $155,000, payable at the beginning of each lease year. Yvans IBR is 6%. Yvan does not know the lessors interest rate. The fair value of the equipment is $680,000. Yvan depreciates equipment on a straight-line basis, taking a full years depreciation in the year of acquisition. (PV of $1, PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the lease liability amortization schedule for Yvan.

Yvan Limited
For the year ending 31 December 20X4
Statement of financial position:
Right of use asset	$0
Less accumulated depreciation
Net equipment under capital lease	$0
Current liability for right-of-use asset
Long-term liability for right-of-use
Lease Liability	$155,000
Statement of comprehensive income:
Depreciation expense
Interest expense
Cash flow statement:
Operating activitiesnon-cash expense add-backs:
Depreciation
Interest
Financing activitiesright-of-use asset payment