Compensated absences (15 points) 1. A newly incorporated governmental university incurred and paid compensated absences for vacation pay and sick leave of $60,000 during 2017 2. At the end of 2017, the university estimated that its total liability for compensated absences for vacation pay and sick leave was another $45,000. None of this is expected to be paid from available financial resources. 3. In 2018, the university paid $125,000 for compensated absences for vacation pay and sick leave. 4. At the end of 2018, the university estimated that its total liability for compensated absences was $170,000. Of this, $7,200 was deemed to be payable from available expendable financial resources. 5. In 2019, the university paid $201.000 for compensated absences for vacation and sick . 6. At the end of 2019, the university estimated that its total liability for compensated absences was $210,000. None of the $210,000 was deemed to be payable from available expendable financial resources. a. What amount of liabilities should be reported in the General Fund balance sheet for compensated absences for each of these years? 2017 2018 2019 b. What amount of expenditures must the university report in each year in the General Fund for the compensated absences? 2017 2018 2019 Compensated absences (15 points) 1. A newly incorporated governmental university incurred and paid compensated absences for vacation pay and sick leave of $60,000 during 2017 2. At the end of 2017, the university estimated that its total liability for compensated absences for vacation pay and sick leave was another $45,000. None of this is expected to be paid from available financial resources. 3. In 2018, the university paid $125,000 for compensated absences for vacation pay and sick leave. 4. At the end of 2018, the university estimated that its total liability for compensated absences was $170,000. Of this, $7,200 was deemed to be payable from available expendable financial resources. 5. In 2019, the university paid $201.000 for compensated absences for vacation and sick . 6. At the end of 2019, the university estimated that its total liability for compensated absences was $210,000. None of the $210,000 was deemed to be payable from available expendable financial resources. a. What amount of liabilities should be reported in the General Fund balance sheet for compensated absences for each of these years? 2017 2018 2019 b. What amount of expenditures must the university report in each year in the General Fund for the compensated absences? 2017 2018 2019