On January 1, 2020, Concord Company contracts to lease equipment for 5 years, agreeing to make a payment of $105,519 at the beginning of each year, starting January 1, 2020. The leased equipment is to be capitalized at $440,000. The asset is to be amortized on a double-declining-balance basis, and the obligation is to be reduced on an effective-interest basis. Concords incremental borrowing rate is 6%, and the implicit rate in the lease is 10%, which is known by Concord. Title to the equipment transfers to Concord at the end of the lease. The asset has an estimated useful life of 5 years and no residual value.

What amounts will appear on the lessees December 31, 2020, balance sheet relative to the lease contract?