Question: Problem 5 Barker Bros. Services leased office space under a 5-year operating lease agreement. The lease specified 60 monthly rent payments of $3000 each, beginning

Problem 5 Barker Bros. Services leased office space under a 5-year operating lease agreement. The lease specified 60 monthly rent payments of $3000 each, beginning at the inception of the lease. In addition to the first rent payment, Barker Bros. also had to pay a $5000 advance payment at the lease's inception. What will be the effect of the lease on Ward's earnings for the first year (Ignore taxes)

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