The following two scenarios are independent of one another. 
Definitions:
Income Statement
A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and profits or losses.
Prepaid Rent
An asset account that represents rent payments made in advance of the rental period.
Rent Expense
The cost incurred by renting property or equipment for business or personal use, typically recognized in accounting over the rental period.
Expected Life
The anticipated duration a fixed asset is likely to be useful in business operations before needing replacement.
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