X Ltd entered into a lease agreement on the following terms:
Cost of leased asset ........... £100,000
Lease term ............... 5 years
Rentals six-monthly in advance ...... £12,000
Anticipated residual on disposal of the
assets at end of lease term ......... £10,000
Lessee’s interest in residual value ........ 97%
Economic life ............... 8 years
Inception date 1 January .......... 20X4
Lessee’s financial year-end ...... 31 December
Implicit rate of interest is applied half-yearly . 4.3535%

Required:
Show the statement of comprehensive income entries for the years ended 31 December 20X4 and 20X7 and statement of financial position extracts at those dates.