Please use the following data to answer the following two questions (15-16) On June 30, 2018, Heaven, Inc. leased warehouse equipment from Earth, Inc. The lease agreement calls for Heaven to make semiannual lease payments of $1,688,721 over a three-year lease term, payable each June 30 and December 31, with the first payment at June 30, 2018. Heaven's incremental borrowing rate is 10%, the same rate Earth used to calculate lease payment amounts. Earth manufactured the equipment at a cost of $7.5 million n=6 NA 15. The journal entry on December 31, 2018 would include a i=19-5% 5.675096 a. credit to lease revenue for $1,688,721. b. credit to lease receivable for $365,564. c. credit to lease receivable for $1,688,721. d. credit to interest revenue for $365,564. 16. What amounts related to the lease would Earth report in its income statement for the year ended December 31, 2018? a $1,500,000 b. $2,054,285 C. $1,865,564 d. None of these are correct