What is the impact of the new lease accounting standard, ASC 842, on a lessee's balance sheet, income statement, and statement of cash flows? How would a company determine whether a lease is classified as an operating lease or a finance lease under the new standard, and what criteria must be met for a lease to qualify as a finance lease? In addition, how would a company calculate the lease liability and right-of-use asset for a finance lease, and what are the implications of these calculations for the lessee's financial statements? Finally, what disclosures are required under ASC 842, and how do these disclosures differ from those required under the previous lease accounting standard, ASC 840?

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