Part $1$: At January $1,2024,$ Norway Company leased a machine from Yong Manufacturer. The following information pertains to the lease:

Lease term

$3$ years

Annual lease payments beginning January $1,2024$ and at each

December $31$ thereafter through $2025$

$$80,000$

Present value of lease payments at $6\%($selling price of machine$)$ $$226,671$

Yong Manufacturer's implicit rate $($known by Norway$)$

$6\%$

On December $31,2026,$ the machine reverts back to Yong. Both companies use straight$-$line depreciation$/$amortization$.$ Assume useful life of machine is $3$ years. The lease is classified as a finance lease$/$salestype lease:

What is the amount related to the lease that Norway will report in its income statement for the year ended December $31,2024?($Ignore income taxes.$)$

What is the balance of lease liability that Norway will report in its balance sheet at December $31,2024?$

$-$What is the balance of right$-$of$-$use asset that Norway will report in its balance sheet at December $31,2024?$

What is the amount related to the bonds that Norway will report in its statement of cash flows for the year ended December $31,2024?$ Indicate the category in which to classify cash flows. activities at $($amount$),$ activities $($amount$)$

Assume the cost of the machine on Yong's book is $$156,671.$ What is the amount related to the lease that Yong will report in its income statement for the year ended December $31,2024?$