(9 points). In 2016, Caterpillar purchased a large tract of land in Alabama with the intent to build a manufacturing facility thereon. At the start of construction in 2016, it was found that the land was contaminated with chemicals from a previous owner. Caterpillar has been fighting a long court battle to avoid having to pay for cleaning up the land. In 2018, Caterpillar wrote-off (i.e., 100\% impaired) the value of the land, but did not record anything regarding the possible clean-up. In December, 2022, as a result of a recent court decision, Caterpillar's board has decided that they had to record the approximately $50 million cost of cleaning up the land, but no entry was actually made as a result of this decision. Caterpillar's net income in 2022 was $2,998 million before recognition of any clean-up costs. If needed adjustments were made to correct the error, what would be impact on the financial statements below: a) Change in Total Liabilities as of December 31,2022 ? b) Change in Net Income for the Year Ended December 31, 2022 ? c) Briefly explain (one sentence at most; two words are all that is necessary), why Caterpillar had to make an entry after the board meeting, (i.e., what conditions did it meet that required recognition)