View Policies Show Attempt History Current Attempt in Progress The following facts pertainto a non-cancelable lease agreement between Sunland Leasing Company and Splish Brothers Company, a lessee June 1, 2020 $47,005.95 $11,800 4 years Commencement date Annual lease payment beginning with June 1, 2020 Bargain purchase option price at end of lease term Lease term Economic life of leased equipment (no salvage value) Lessor's cost Fair value of asset at June 1, 2020 Lessor's implicit rate (known to lessee) Lessee's incremental borrowing rate 12 years $158.000 $181.999.98 6 % 6 The collectibility of the lease payments by Sunland is probable (c) Prepare a lease amortization schedule for Splish Brothers for the 4-year lease term (Round answers to 2 decimal places, es. 5,275.15.) SPLISH BROTHERS COMPANY (Lessee) Lease Amortization Schedule Interest on Reduction of Lease Liability Liability Annual Lease Payment Plus BPO Lease Date $ $ 6/1/20 $ 6/1/20 6/1/21 6/1/22 6/1/23 5/31/24 $ eTextbook and Media List of Accounts