On December 31, 20Y3, Lopez Company (lessee) signed a 3-year, noncancelable lease for the use of manufacturing equipment now owned by Zinger, Inc. (lessor). The lease expires December 31, 20Y6 and has the following terms:

Annual contractual payments of $16,664 at the end of each year. The first payment is due December 31, 20Y3.

No down payment; No purchase option.

The assets FMV at 12/31/Y3 is $60,000.

Lopez does not guarantee any residual value at 12/31/Y6.

Lopez can borrow at 10% per year for a 3-year loan; Lopez is unaware of Zingers 8% desired return rate. The estimated useful life of the asset is 4 years.

REQUIRED Use the following templates to show how the above lease transaction impacted Lopezs Statement of Cash Flows, Income Statement, and Balance Sheet for the years 20Y3-20Y6. Round all amounts to the nearest whole dollar. The Statement of Cash Flows should properly categorize cash flows as operating, investing, or financing. The Balance Sheet should reflect cumulative changes to the statement. These amounts will not necessarily equal the December 31, 20YX ending balances in the Balance Sheet accounts. It should also separate debt into current and a non-current amounts. Some lines might not have answers. List account names or transaction descriptions in the first column and amounts in the remaining columns. NOTE: The t-accounts are required,