Contingent liabilities. Below are three independent situations. 1. in August, 2018 a worker was injured in the factory in an accident partially the result of his own negligence The worker has sued Barkley Co. for $800,000. Counsel believes it is reasonably possible that the outcome of the suit will be unfavorable and that the settlement would cost the company from $250,000 to $500,000. 2. A suit for breach of contract seeking damages of $3,000,000 was filed by an author against Henderson Co. on October 4, 2018. Henderson's legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between $1,000,000 and $2.250.000. No amount within this range is a better estimate of potential damages than any other amount. 3. Kroft is involved in a pending court case. Kroft's lawyers believe it is probable that Kroft will be awarded damages of $1,000,000. Instructions 1. Provide the amount, if any, that should be reported for the contingency in each situation. (US GAAP) 2. Provide a short rationale/reason for each answer. h antar Dress ALT F10 (PC) or ALT+FN+F10 (Mac)