III-rII-rl 'I.l tunruin".- 1-H Full-H] 1. Below are three independent situations. a. In August. 2010 a worker was injured in the factory in an accident partially the result of his own negligence. The worker has sued Wesley Co. for $000,000. 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. b. A suit for breach of contract seeking damages of $2,400,000 was led by an author against Greer Co. on October 4. 2010. Greer's legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between $000,000 and $1,800,000. No amount within this range is a better estimate of potential damages than any other amount. c. IQuinn is involved in a pending court case. Peete's lawyers believe it is probable that lQuinn will be awarded damages of $1.000,000. Instructions - Discuss the proper accounting treatment, including any required disclosures, for each situajjon. Give the rationale for your answers. Use good grammatical form. narrative style [no 'bullet' or itemized responses)