3. Effective December 15th, 2018, the operating leases will be recorded: A) only on the balance sheet and income statement of the lessor. B) only on the income statement of the lessee as each lease payment is expensed. C) as an asset and liability on the balance sheet of the lessee with a value equal to the estimated residual value of the leased asset. D) in the footnotes rather than on the balance sheet of the lessee. E) on the balance sheet of the lessee with value equal to the present value of future lease payments