3.4 points Willacy Wires Couses copper in the production of its electric wires. On January 1, 2021. Wlacy enters into a firm commitment to purchase 100 tons of copper from a suppler to satisfy summer production demands. The purchase is to be at a foxed price of 56.000 per ton on July 31.2021. To protect against the risk of changes in the fall value of the commitment contract. Wilcenters who a futures contract to sell 100 tons of copper on July 31 for $6.000/ton (the current prices. The contract calls for net cash settlement, and the company must report changes in the fair values of its hedging instruments each quarter. On March 31, 2021 (when Wilacy issues the first quarter financial statements the price of copper was 55.750 ron. On the March 31, 2021 balance sheet, the form commitment will appear as Solidity The firm compear in the balance sheet $25.000