Current Liabilities and contingencies

4. SWEET DATES COMPANY OFFERS A PREMIUM TO ITS CUSTOMERS, A GLASS BOWL (COST TO SWEET DATES IS S0.90) UPON RETURN OF 40 COUPONS. TWo COUPONS ARE PLACED IN EACH BoX OF DATES SOLD. THE COMPANY ESTIMATES, ON THE BASIS OF PAST EXPERIENCE, THAT ONLY 70% OF THE COUPONS WILL EVER BE REDEEMED. DURING 2018, TEN MILLION BOXES OF DATES WERE SOLD AT $0.30 EACH. EIGHT MILLION COUPONS ARE REDEEMED DURING 2018. SWEET DATES PURCHASED 360,000 GLASS BOWLS FOR THE PLAN IN 2018. REQUIREMENTS: A. ON THE DECEMBER 315T, BALANCE SHEET, WHAT AMOUNT WOULD BE REPORTED UNDER LIABILTIES FOR THE ESTIMATED PREMIUM LIABILITY B. ON THE DECEMBER 31ST, BALANCE SHEET, WHAT AMOUNT WOULD BE REPORTED UNDER ASSETS FOR THE INVENTORY OF PREMIUMS C. ON THE YEAR-ENDED DECEMBER 31T, INCOME STATEMENT WHAT WOULD BE THE AMOUNT REPORTED FOR PREMIUM EXPENSE. FOR REQUIREMENTS A, B, AND c, ANSWER THE REQUIREMENTS, DO NOT SHOW JOURNAL ENTRIES