On June $30,2024,$ Georgia$-$Atlantic, Incorporated leased warehouse

equipment from IC Leasing Corporation. The lease agreement calls for

Georgia$-$Atlantic to make semiannual lease payments of $$583,573$ over a

four$-$year lease term $($also the asset's useful life$),$ payable each June $30$ and

December $31,$ with the first payment on June $30,2024.$ Georgia$-$Atlantic's

incremental borrowing rate is $11\%,$ the same rate IC used to calculate lease

payment amounts. IC purchased the equipment from Builders, Incorporated

at a cost of $$3\mathrm{.}9$ million.

Note: Use tables, Excel, or a financial calculator. $($FV of $$1,$ PV of $$1,$ FVA of

$$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Required:

What amount related to the lease would IC report in its balance sheet

on December $31,2024($ignore taxes$)?$

What amount related to the lease would IC report in its income

statement for the year ended December $31,2024($ignore taxes$)?$

Note: For all requirements, enter your answers in whole dollars and not

in millions. Round the intermediate calculation and final answers to the

nearest whole dollar.

Pretax amount of net receivable

Pretax amount of interest revenue