Blue Spruce Company sells products with a 2-year warranty. Past experience indicates that 2% of the units sold will be returned during the warranty period for repairs. The average cost of repairs under warranty is estimated to be $80 per unit. During 2020, 9,050 units were sold at an average price of $400. During the year, repairs were made on 55 units at a cost of $3,600. Prepare journal entries to record the repairs made under warranty and estimated warranty expense for the year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit Warranty Expense 3600 Repair Parts (To record cost of honoring warranties) Warranty Expense 14480 Warranty Liability (To accrue estimated warranty costs) 3600 14480 Current Attempt in Progress Flint Outfilter's 2020 financial statements contained the following data (in millions). Current assets $15,576 Accounts receivable $1,770 Total assets 50,050 Interest expense 1,180 Current liabilities 14,160 Income tax expense 1,570 Total liabilities 32,580 Net income 2.750 Cash 490 Compute these values: (a) Working capital. (b) Current ratio. (Round current ratio to 2 decimal places, e.g. 52.51. Enter amounts in millions.) (a) Working capital $ million (b) Current ratio :1 eTextbook and Media ALL