=+EX 11-21 Accrued product warranty obj. 5 Several months ago, Welker Chemical Company experienced a hazardous materials
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=+EX 11-21 Accrued product warranty obj. 5 Several months ago, Welker Chemical Company experienced a hazardous materials spill at one of its plants. As a result, the Environmental Protection Agency (EPA) fined the company $410,000. The company is contesting the fine. In addition, an employee is seeking $400,000 damages related to the spill. Lastly, a homeowner has sued the company for $260,000. The homeowner lives 30 miles from the plant, but believes that the incident has reduced the home’s resale value by $260,000.
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