ADMN919-Management Accounting My Subscriptions/ Courses/ADMN919-Management Accounting/ Module 7/ Module 7 Homework N 3 Analyzing and Determining Liability Amounts For each of the following situations, indicate the liability amount, if any, that is reported on the balance sheet of Bloomington Inc. at December 31. 2016. Next to each situation, enter the liability amount reported on Bloomington's balance sheet, If the amount is not reported as a liability. enter zero as your answer 220,000 a. Bloomington owes $220,000 at year-end 2016 for inventory purchase egreed to purchase a $28,000 drill press in January 2017 to a ,100 bonus for its executive equal to 5% of $800,000. Partially correct