King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at...

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King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at a 8% annual rate. The lease term is nine-months with monthly payments of $12,000 due at the end of each month. King Cones elected the short-term lease option. What is the effect of the lease on King Cones' earnings during the nine-month term (ignore taxes)? At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a nine-year operating lease agreement. The contract calls for quarterly rent payments of $45,000 each. The office building was acquired by Lakeside at a cost of $4.0 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on Lakeside's earnings for the first year (ignore taxes)? (Enter your answer in whole dollars.) Lakeside its earnings by King Cones leased ice cream-making equipment from Ace Leasing. Ace earns interest under such arrangements at a 8% annual rate. The lease term is nine-months with monthly payments of $12,000 due at the end of each month. King Cones elected the short-term lease option. What is the effect of the lease on King Cones' earnings during the nine-month term (ignore taxes)? At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a nine-year operating lease agreement. The contract calls for quarterly rent payments of $45,000 each. The office building was acquired by Lakeside at a cost of $4.0 million and was expected to have a useful life of 25 years with no residual value. What will be the effect of the lease on Lakeside's earnings for the first year (ignore taxes)? (Enter your answer in whole dollars.) Lakeside its earnings by