Q 16 KnittingCo enters into a finance lease of a spinner. During the first year of the lease KnittingCo made a payment to the lessor of $16,000, which represents: repayment of the principal portion of the lease of $12,000 repayment of the interest portion of the lease of $4,000. How should Knitting Co classify this payment in its cash flow statement? Select the one correct option and then select Submit KnittingCo should disclose the whole amount of $16,000 within financing activities. KnittingCo should disclose the whole amount of $16,000 within operating activities. KnittingCo should disclose $12,000 within operating activities and $4,000 within financing activities.) KnittingCo should disclose $12,000 within financing activities and $4,000 within either operating, investing or financing activities, as long as it is consistently presented over the period.