The following information relates to a lease contract for equipment: $520,000 Equipment fair market value at inception Lease inception Lease term Lease payments due Annual lease payment Lessee's incremental borrowing rate Equipment estimated useful life Lessee's depreciation method At end of lease title reverts to lessor January 1, 2020 6 years Jan 1st beginning Jan 2020 $101,100 including $3,600 insurance costs 6% 8 years Straight-line Required a. Assuming the lessee is subject to the requirements of IFRS 16, prepare all the journal entries for the lessee for the period January 1, 2020 to December 31, 2020 to account for this lease. (10 Marks) b. What amounts will appear on the lessee's statement of financial position on December 31, 2020. You are not required to prepare separate amounts for current and long term items. (4 marks) C. What amounts will appear on the lessee's statement of comprehensive income for the year ended December 31, 2020