Financial Statement Reporting for an Operating Lease Harmeling Paint Ball (HPB) Corporation needs a new a compressor that costs $70,000. HPE will need it for onty 5 years even though the compressor's economic life is long enough so that the lease is an operating lease. The firm can lease the compressor for 5 years with $25,000 lease payments at the end of each yest. HPE's cost of debe is 10%, Answer the following questions. (Hint: See Table 19-1.) a. What is the initial lease liability that must be reported on the balance sheet? Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a dositive value. 5 b. What is the initial naht-of-use asset? Do not round intermediate calculations. Round your answer to the nearest cent. 5 c. What will HPB reaort as the Year-1 iease expense? Round your answer to the nearest cent, Enter your answer as a positive value. 5 d. What is the Year-1 imbuted interest expense? Do fiot round intermediate calculations. Round your answer to the nearest cent: Enter your answer as a pesitive value. 5 e. What lease liablaty must be reported at Year 17 Do not round intermediate calculations. Round your answer to the nearest cent. Enter your answer as a postive value. 5 1. What riaht-af-use asset must be reported at year 17 Do not round intermediate calculations, Poind your answer to the nearest cent. TABit is:1 Haiet