On Januitry $1.2022,$ shadow industries $($lessor$)$ leased equipmes to Bone $60.$ Hessere$)$ ford $5$ year period under a norn$-$cancelable agneement, afier which the leased asset will revert back to Shaclow industries.

The equipment costs $5/$iadow indusiries $$8$ $$80,000$ and narmally sells for $,1,116,581.$

Equar paymenis under the lease are $$240,000$ and are due on December $31$ of each year, with the firsc payment made on Sankary $1.2022$

The equipment has a userul life of $6$ years.

The equipmentis residual value is $$120,000$ at the end of the lesse rerm$7$

The rate implicit in the lease used by chre lessor is $8\%.$ Bone Cas increntrential borrowing rate is $10\%$ and lessee is aware of lescorsinte

What sotal amount did Shadow record in its Income Staiement for the reporting year ending Decernber $31,2022,$ in connection with hes lease? $($ignore taxes.$)$