Reporting Operating Lease$-$Lessor

Solutions Inc. signs a $10-$year lease for a building owned by Property Inc. that is appropriately classified as an operating lease by both the lessee and lessor. Lease payments are $$150,000$ per year. The building has an estimated useful life of $30$ years with no salvage value. Assuming that the building has a fair value of $$2,000,000$ at the commencement of the lease, what amounts would Property Inc. recognize in its income statement $($ignoring taxes$)$ for the year ended December $31?$ Assume that Property Inc. is using the straightline method to depreciate buildings.

Note: Round your answers to the nearest whole dollar.

Note: Do not use a negative sign with your answers.

$\backslash$table$[[$Income Statement Item,,Amount$],[$Lease revenue,$$,500,000x$