Carpenter Inc. had a balance of $97,000 in its quality assurance warranty liability account as of December 31, 2020. In 2021, Carpenter's warranty expenditures paid were $462,000. Its warranty expense is calculated as 1% of sales. Sales in 2021 were $41.7 million. What was the balance in the warranty liability account as of December 31, 2021? Multiple Choice $52,000. $514,000. $503,200 $128,400 13