I dont understand the process Plz Explain in detail!

A lease agreement that qualifles as a finance lease calls for annual lease payments of $20,000 over a eight-year lease term (also the asset's useful life), with the first payment at January 1, the beginning of the lease. The interest rate is 4% (FV of $1, PV of $1, EVA of S1. PVA of S1, EVAD ofS1 and PVAD of \$1) (Use oppropriate factor(s) from the tables provided.) Required: o. Complete the amortization schedule for the first two payments. b. If the lessee's fiscal year is the calendar year, what would be the amount of the lease llability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Complete this question by entering your answers in the tabs below. Complete the amortization schedule for the first two payments. (Enter all amounts as positive values. Round your answers to the nearest whole dollar.) A lease agreement that qualifies as a finance lease calls for annual lease payments of $20,000 over a eight-year lease term (also the asset's useful ife), with the first payment at January 1 , the beginning of the lease. The interest rate is 4%. (FV of $1, PV of $1. EVA of $1. PVA of \$1. FVAD of $1 and PVAD of \$1) (Use opproprlate factor(s) from the tables provided.) Requlred: a. Complete the amortization schedule for the first two payments. b. If the lessee's fiscal year is the calendar year, what would be the amount of the lease llability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? Complete this question by entering your answers in the tabs below. If the lessee's fiscal year is the calendar year, what would be the amount of the lease liability that the lessee would report in its balance sheet at the end of the first year? What would be the interest payable? (Round your answers to the nearest whole dollar.) A lease agreement that qualifies as a finance lease calls for annual lease payments of $60,000 over a six-year lease term falso the asset's useful life), with the first payment at January 1 , the beginning of the lease. The interest rate is 7%. (EV of S1, PV of S1. EVA of S1. PVA of \$1. EVAD afS1 and PVAD of S1) (Use appropriate foctor(s) from the tables provided.) Requlred: o. Determine the present value of the lease upon the lease's inception. b. Create a partial amortization table through the second payment on January 1, 2017. c. If the lessee's niscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the year ended December 31, 2016 (ggnore taxes)? Complete this question by entering your answers in the tabs below. Determine the present value of the lease upon the lease's inception. (Round your answers to nearest whole number and round percentage answer to 1 decimal place.) A lease agreement that qualifes as a finance lease calls for annual lease payments of $60,000 over a six-year lease term (aiso the asset's useful are), with the first payment at January 1, the beginning of the lease. The interest rate is 7%. (FV ofS1, PV of S1. EVA of S1. PVA of S1. EVAD of SI and PVAD of S1) (Use appropriate factor(s) from the tables provided.) Requlred: a. Determine the present value of the fease upon the lease's inception b. Cieate a partial amortization table through the second payment on January 1, 2017 c. If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the year ended December 31, 2016 (ignore taxes)? Complete this question by entering your answers in the tabs below. Create a partial amortization table through the second payment on January 1, 2017. (Enter all amounts as positive values. Round your answers to nearest whole number.) A lease agreement that qualifies as a finance lease calls for annual lease payments of $60.000 over a slx-year tease term falso the asset's useful ire), with the first payment at January 1 , the beginning of the lease The interest rate is 7% (FV of $1. PV of SI. EVA of $1. PVA. ef S. FVAD. of \$1 and PVAD of \$1) (Use oppropriate factor(s) from the tobles provided.) Required: o. Determine the present value of the lease upon the lease's inception b. Create a partal amortization table through the second payment on January 1.2017, c. If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the year ended December 31,2016 (ggnore taxes)? Complete this question by entering your answers in the tabs below. If the lessee's fiscal year is the calendar year, what would be the pretax amounts related to the lease that the lessee would report in its income statement for the year ended December 31,2016 ? (Round your answers to nearest whole number.)