For each of the following situations, indicate the liability amount, if any, which is reported on the balance sheet of Hirst, Inc., at December 31, 2015.

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a . Hirst owes $ 1 10 ,000 at year -end 2015 for its inventory purchases b . Hirst agreed to purchase a $28000 drill press in January 2016 C . During November and December of 2015 , Hirst sold products to a firm with a 90 day warranty against product failure . Estimated 2016 costs of honoring this warranty are $2 200 d . Hirst provides a profit - sharing bonus for its executives equal to 5% of its reported pretax annual income . The estimated pretax income for 2015 is $600, 000 . Bonuses are $ not paid until January of the following year