this is all the information that was provided for the question

On January 1,2020, Cullumber Corp. which uses IFRS, signs a 10-year, non-cancellable lease agreement to lease a specialty lathe from Lia lnc. The following information concerns the lease agreement. 1. The agreement requires equal rental payments of $76,005 beginning on January 1, 2020. 2. The lathe's fair value on January 1,2020 , is $500,000. 3. The lathe has an estimated economic life of 12 years, with an unguaranteed residual value of $18,000. Cullumber Corp. depreciates similar equipment using the straight-fine method. 4. The lease is non-renewable. At the termination of the lease, the lathe reverts to the lessor: 5. Cullumber's incremental borrowing rate is 10% per year. The lessor's implicit rate is not known by Cullumber Corp. 6. The yearly rental payment includes $2.029.82 of executory costs related to insurance on the lathe. Assume this is a manufacturer/dealer lease. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY DUE. Using (1) factor tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the right-of-use asset and lease liability and prepare the initial entry to reflect the signing of the lease agreement. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round factor values to 5 decimal ploces, e.g. 1.25124 and final answers to 2 decimal places, e.g. 5,275.25.) Using (1) factor tables, (2) a financial calculator, or (3) Excel functions; calculate the amount of the right-of-use asset and lease liability and prepare the initial entry to reflect the signing of the lease agreement. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 2 decimal places, e.8. 5,275.25.] CULLUMEER CORP. Lease Amortization Schedule (Lessec) sin1.2020$ dan1,2021 san1,2022 tan1.2023 Hn2.2024 tan1,2025 tan1,2026 Jan 1.2027 tan1,2028 Jan1,2029 \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline 12/31/20 & \\ \hline & & \\ \hline \end{tabular} (To record depreciation expense.) 12/31/20 (To record interest.) 1/1/21 (To record lease paymint.) 12/31/21 (Torecord depreciation expense.) 12/31/21 (Torecord interest.)