3. You are doing accounting work for A. A. Inc.(which provides wireless telephone service for local businesses and organizations), for their year ending 2009, and request from their attorney, Joanne Angelina, any information on lawsuits in process regarding the company. Four are listed by the name of the plaintif and the amount sought in the courtd 1 Giselle Knowles 2 Pa. P. A 3 ROTC 4 Stefani Germanotta $45,000 25,000 30,000 $1,000,000 The first case (Giselle), is going to trial early next year and concerns a dispute that arose during 2008, and involves the customer's wireless phone contract and seeks damages from an alleged breach by the company (A.A.), that occurred in 2008. The attorney points out that negotiations to settle are in progress, but nothing has happened recently and she expects to settle soon but has no new information to modify prior expectations regarding the case, which was a loss of $40,000. The worst outcome for this suit would be the amount plead. The second case involves the Pennsylvania Port Authority, andis also a contract dispute, but the underlying alleged breach by the company occurred during 2009. Ms. Angelina states that she fully expects to win the case, but does feel concerned that the case could be lost if the jury is unswayed by the company's expert witness, in which case the amount pled could be lves the local university's ROTC chapter, and has to do with allegedly faulty lost. The third case invol equipment supplied by the company (A. A.) during 2009, and Ms Angelina points out that this case is I soon and is also in settlement negotiations. The hope with this case is not in winning lso slated for trial (she expect The final case is more of a nuisance s it is very likely a trial would be lost), but in trying to lower the amount of damages by a than the amount plead, at a minimum the settlement will be $24,000. she estimates suit, the attorney tells you, as the plaintiff is merely looking for a t. The (now terminated, ex-) employee for the company, Alexander Skarsgard, "accidentally" deep pocke d a customer (the plaintif) off a balcony causing severe back injuries. Ms. Angelina assures you any court would rule this to be an intentional tort on the employee's part and there is no chance that A. A. will be held liable. When you ask, "is that about it?", she finishes by stating, "about A. A.? that Nothing else I can say." is information, what amount must A. A. accrue this year, 2009, as a loss contingency, and at amounts should be disclosed in the footnotes