QUESTION 16 On January 2, 2021, Kristen's Leasing Company leases equipment to Jake Co. with 5 equal annual payments of $160,000 each, payable beginning January 2, 2021. Jake Co agrees to guarantee the $150,000 residual value of the asset at the end of the lease term. The expected value of the residual value is $50,000 Jake's incremental borrowing rate is 10%, however it knows that Kristen's implicit interest rate is 8%. Question: What is the impact on Jake Co's net income when they record the necessary entry on January 1, 2022 to record the second lease payment? PV Annuity Due Py Ordinary Annuity PV Single Sum 8%, 5 perods 431213 3.99271 63500 10%, 5 periods 4.16066 3.79079 62092 QUESTION 17 Question: Which of the following would not be included in the Lease Receivable account? 1. Guaranteed residual value 02 Unguaranteed residual value 3. All would be included 4. A bargain purchase option QUESTION 18 On July 1, 2021, an interest payment date, $80,000 of Parks Co. bonds were converted into 1,600 shares of Parks Co. common stock each having a par value of $46 and a market value of $65. Assume that APIC is increased by $4.800 at conversion Question: The net impact on equity from the conversion equals how many dollars