PV of Annuity of $1 Required: Refer to the table above for present value factors. 1. Assume that the lease is treated as an operating lease. a. Will the value of the forklift appear on Koffman's balance sheet? b. What account will indicate that lease payments have been made? Feedback Check My Work 2. Assume that the lease is treated as a capital lease or finance lease. a. Identify and analyze the effect when the lease is signed. Feedback Check My Work How does this entry affect the accounting equation? whole dollar. b. Identify and analyze the effect of the first lease payment on December 31,2017. Feedback Check My Work How does this entry affect the accounting equation? whole dollar. c. Calculate the amount of depreciation expense for the year 2017. Round answer to the nearest whole dollar. $ d. At what amount would the lease obligation be presented on the balance sheet as of December 31 , 2017? Round answers to the nearest Current liability portion $ Long-term liability portion $ PV of Annuity of $1 Required: Refer to the table above for present value factors. 1. Assume that the lease is treated as an operating lease. a. Will the value of the forklift appear on Koffman's balance sheet? b. What account will indicate that lease payments have been made? Feedback Check My Work 2. Assume that the lease is treated as a capital lease or finance lease. a. Identify and analyze the effect when the lease is signed. Feedback Check My Work How does this entry affect the accounting equation? whole dollar. b. Identify and analyze the effect of the first lease payment on December 31,2017. Feedback Check My Work How does this entry affect the accounting equation? whole dollar. c. Calculate the amount of depreciation expense for the year 2017. Round answer to the nearest whole dollar. $ d. At what amount would the lease obligation be presented on the balance sheet as of December 31 , 2017? Round answers to the nearest Current liability portion $ Long-term liability portion $