V1. Please show calculations to receive full credit. I) Abbott Equipment leased a protein analyzer to Werner Chemical, Inc., on September 30, 2016. Abbot purchased the machine from NutraLabs, Inc., at a cost of $6.15 million. The fve year lease agreement calls for Werner to make quarterly lease payments of $401,337, payable each September 30 31, March 31, June 30, with the first payment at September 30, 2016. Abbots implicit interest rate is 12%. December Required: 1. Prepare the appropriate journal entries for Abbott for 2016 related to the lease 2. What amounts related to the lease would Abbott report in its balance sheet at December 31, 3. What amounts related to the lease would Abbott report in its income statement for the year 4. What amounts related to the lease would Abbott report in its statement of cash fows fer 2016 (ignore taxes)? ended December 31, 2016 (ignore taxes)? ended December 31, 2016 (ignore taxes)? Please specify the section on the cash flow statement the year and inflow or outfiow Northwest Paperboard Company, a paper and allied products manufacturer, was seeking to gain a foothold in Canada. Toward that end, the company bought 40% of the outstanding common shares of Vancouver Timber and Milling, Inc., on January 2, 2016, for $590 million At the date of purchase, the book value of Vancouvers net assets was $870 million. The book values and fair values for all balance sheet items were the same except for inventory and plant faciities The fair value exceeded book value by $10 million for the inventory and by $15 miion for the plant facilites The estimated useful life of the plant facilities is 15 years. All inventory acquired was sold during 2016 net income of $210 million for the year ended December 31, 2016. Vancouver Vancouver reported paid a cash dividend of $50 million. Required 1. Prepare all appropriate journal entries related to the investment during 2016 amount should Northwest report as its income from its investment in Vancouver for the year 2. What ended December 31, 2016? What amount should Northwest report in its balance sheet as its investment in Vancouver? 3. 4. What should Northwest report in its statement of cash flows regarding its investment in Vancouver