Carpenter Incorporated had a balance of $91,000 in its quality-assurance warranty liability account as of December 31, 2023. In 2024, Carpenter's warranty expenditures paid were $456,000. Its warranty expense is calculated as 1% of sales. Sales in 2024 were $41.1 million. What was the balance in the warranty liability account as of December 31, 2024? Multiple Choice $46,000 $475,600 $502,000 $127,200