Korn Business Solutions
The following footnote accompanied the company's 2019 financial statements:
The Corporation leases office, warehouse and showroom space, retail stores, and office equipment under short-term leases, which expire no later than 2032. The Corporation normalizes fixed escalations in rental expense under its short-term leases. Minimum annual rentals under non-cancelable short-term leases, excluding operating cost escalations and contingent rental amounts based upon retail sales, are payable as follows: Rent expense was $12,551,000; $8,911,000; and $5,768,000 for the years ended March 31, 2019, 2018, and 2017, respectively.
-Refer to Korn Business Solutions. What are the two types of leases that a company can have? Describe each briefly.

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Korn Business Solutions
The following footnote accompanied the company's 2019 financial statements:
The Corporation leases office, warehouse and showroom space, retail stores, and office equipment under short-term leases, which expire no later than 2032. The Corporation normalizes fixed escalations in rental expense under its short-term leases. Minimum annual rentals under non-cancelable short-term leases, excluding operating cost escalations and contingent rental amounts based upon retail sales, are payable as follows:  Rent expense was $12,551,000; $8,911,000; and $5,768,000 for the years ended March 31, 2019, 2018, and 2017, respectively.
-Refer to Korn Business Solutions. What are the two types of leases that a company can have? Describe each briefly.

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The Answer of Korn Business Solutions
The following footnote accompanied the company's 2019 financial statements:
The Corporation leases office, warehouse and showroom space, retail stores, and office equipment under short-term leases, which expire no later than 2032. The Corporation normalizes fixed escalations in rental expense under its short-term leases. Minimum annual rentals under non-cancelable short-term leases, excluding operating cost escalations and contingent rental amounts based upon retail sales, are payable as follows:  Rent expense was $12,551,000; $8,911,000; and $5,768,000 for the years ended March 31, 2019, 2018, and 2017, respectively.
-Refer to Korn Business Solutions. What are the two types of leases that a company can have? Describe each briefly.

Korn Business Solutions The Following Footnote Accompanied the Company's 2019 Financial Statements