· Period 1 Balance Sheet (Dec 31, 2022):

• Current Assets: $150,000
• Current Liabilities: $80,000

· Period 2 Balance Sheet (Dec 31, 2023):

• Current Assets: $180,000
• Current Liabilities: $100,000

·Evaluate Capital Lease Obligations: Requirements:

• Identify any capital lease obligations listed on the balance sheet.
• Discuss the accounting treatment for capital lease obligations and their impact on a company's financial position and performance.
• Explain how changes in lease accounting standards, such as ASC 842, affect the recognition and measurement of capital lease obligations.