Show transcribed image text f Facabook xCHAPTER 15 LEASES 、G Chegg Study | Guided Saltiox lason ← e D ezto.mheducation.com.hm.tpx Werner Chemical Inc. leased a protein analyzer 몌 September 30, 2016. The five year lease agrecmert calls for Werner to make quarterly lease payments of $375 234, payable each September 30, Decemben 31, March 31, June 30, with the first payment at September 30, 2016. Werners incremental borrowing rate is 8%. Depreciation is recorded on a straight-line basis at the end of each fiscal year. The useful leer the equipment is five years. Ev of $1. PV of $1, FVA ars1, PVA of$1, FVAD of $1 and PVAD of $1 ) (Usc appropriate factorís) from the tables provided.) Required: 1. Determine the present value of the lease payments at September 30, 2016. valuc 2. What arnaunts related to the lease would Wamer report in its balance sheel at Decebr 31, 2016 (ignore taxes)? Liabilty Asset 3. What amounts related to the lease would Wemer report in its income statement for the year ended December 31, 2016 ignore taxes)? 4. What amounts related to the lease would Wemer report in its statement of cash flows for the year ended December 31, 2016 (ignore taxes)? Capital lease Interest portion Principal