Financial Statement Reporting for an Operating Lease Harmeling Paint Ball (HPB) Corporation needs a new air compressor that costs $80,000. HPB will need it for only 5 years even though the compressor's economice a long eng so that the leate is an operating lease. The firm can lease the compressor for 5 years with $25,000 lase payments at the end of each w HP's cost of debt is 10. Answer the following initions (Hint: See Table 19-1.) a. What is the initial lease lability that must be reported on the balance sheet? Do not round intermediate calculations. Hound your answer to the nearest cont. Enter your answer as a positive value. b. What is the initial right of use asset? Do not found intermediate calculations. Round your answer to the nearest cont. c. What will HPB report as the Year 1 lease expense Round your answer to the nearest contEnter your answer as a positive value d. What is the Year 1 Imputed interest expense? Do not round Intermediate calculations. Round your answer to the nearest cent Enter your answer as a positive value e. What lease liability must be reported at Year 1? Do not round intermediate calculations. Round your answer to the nearest cant. Enter your answer as a positive value 1. What right-of-use set must be reported at Year 12 Do not round Intermediate calculations. Round your answer to the nearest cent Financial Statement Reporting for an Operating Lease Harmeling Paint Ball (HPB) Corporation needs a new air compressor that costs $80,000. HPB will need it for only 5 years even though the compressor's economice a long eng so that the leate is an operating lease. The firm can lease the compressor for 5 years with $25,000 lase payments at the end of each w HP's cost of debt is 10. Answer the following initions (Hint: See Table 19-1.) a. What is the initial lease lability that must be reported on the balance sheet? Do not round intermediate calculations. Hound your answer to the nearest cont. Enter your answer as a positive value. b. What is the initial right of use asset? Do not found intermediate calculations. Round your answer to the nearest cont. c. What will HPB report as the Year 1 lease expense Round your answer to the nearest contEnter your answer as a positive value d. What is the Year 1 Imputed interest expense? Do not round Intermediate calculations. Round your answer to the nearest cent Enter your answer as a positive value e. What lease liability must be reported at Year 1? Do not round intermediate calculations. Round your answer to the nearest cant. Enter your answer as a positive value 1. What right-of-use set must be reported at Year 12 Do not round Intermediate calculations. Round your answer to the nearest cent