The following facts pertain to a non-cancelable lease agreement between Faldo Leasing Company and Sweet Company, a lessee. January 1. $108,305 Commencement date Annual lease payment due at the beginning of each year, beginning with January 1. Residual value of equipment at end of lease term, guaranteed by the lessee Expected residual value of equipment at end of lease term Lease term Economic life of leased equipment Fair value of asset at January 1, Lessor's implicit rate Lessee's incremental borrowing rate $46,000 $41,000 6 years 6 years $557.000 9 % 9 % The asset will revert to the lessor at the end of the lease term. The lessee uses the straight-line amortization for all leased equipment Prepare an amortization schedule that would be suitable for the lessee for the lease term (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answers to decimal places eg. 5,275.) SWEET COMPANY (Lessee) Lease Amortization Schedule Interest on Reduction of Lease Liability Liability Lease Liability Annual Lease Payment Plus GRV O $ $ O $ 0 108,305 108,305 38182 70123 354121 108,305 76434 277687 108.305 31871 108,305 24992 90811 103563 17496 108,305 98984 4579 102,305 9321 421 4579 0 $ $