please try not to cut part 1 and 2 answers. make smaller so it can fit.

Universal Leasing leases electronic equipment to a variety of businesses. The company's primary service is providing alternate financing by acquiring equipment and leasing it to customers under long-term sales-type leases Universal ears interest under these arrangements at a 10% annual rate The company leased an electronic typesetting machine it purchased for $45,900 to a local publisher, Desktop Inc, on December 31, 2020 The lease contract specified annual payments of $9,419 beginning January 1, 2021, the beginning of the lease and each December 31 through 2022 (three year lease term). The publisher had the option to purchase the machine on December 30, 2023, the end of the lease term for $26,800 when it was expected to have a residual value of $30,800, a sufficient difference that exercise seems reasonably certain (EVO 51. PV of $1. EVA of $1. PVA OLSI EVAD of $1 and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Required: 1. Show how Universal calculated the $9,419 annual lease payments for this sales-type lease 2. Prepare an amortization schedule that describes the pattern of interest revenue for Universal Leasing over the lease term 3. Prepare the appropriate entries for Universal Leasing from the beginning of the lease through the end of the lease term