Please help with this lease amortization table.

On December 31, 2021. Rhone-Metro Industries leased equipment to Westem Soya Co for a four-year period ending December 31 2025, at which time possession of the leased asset will revert back to Rhone Metro. The equipment cost Rhone Metro $610,523 and has an expected useful life of six years. Its normal sales price is $610,523. The lessee guaranteed residual value at December 31 2025, is $26,000. Equal payments under the lease are $170,000 and are due on December 31 of each year. The first payment was made on December 31, 2021. Western Soya's incremental borrowing rate is 13%. Western Soya knows the interest rate implicit In the lease payments is 10%. Both companies use straight line depreciation. Use (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of S1 (Use appropriate factor(s) from the tables provided.) Required: 1. Show how Rhone-Metro calculated the $170,000 annual tease payments. 2. How should this lease be classified (a) by Western Soya Co (the lessee) and (b) by Rhone Metro Industries (the lesson? 3. Prepare the appropriate entries for both Western Soya Co, and Rhone Metro on December 31, 2021 4. Prepare an amortization schedule(s) describing the pattern of interest over the lease term for the lessee and the lessor. 5. Prepare all appropriate entries for both Western Soya and Rhone Metro on December 31, 2022 (the second lease payment and amortization) 6. Prepare the appropriate entries for both Western Saya and Rhone Metro on December 31, 2025 assuming the equipment is returned to Rhone Metro and the actual residual value on that date is $1.200. Complete this question by entering your answers in the tabs below. Required 4 Required 5 Required 5 Required 6 lessor lessee lessor les Required 3 Required 3 Required 4 lessee lessor lessee Required lesen Required 1 Required 2 Prepare an amortization schedule(s) describing the pattern of interest over the lease term for the lessee. (Round your intermediate and final answers to nearest whole dollar. Enter all amounts as positive values.) Lease Amortization Schedule Effective Decrease in Payments Interest Balance Outstanding Balance 592,765 422 755 0 170,000 Dec 1 2021 2021 2022 2023 2024 170,000 170,000 340,000 0 170,000