in 20X1, Stevens Corp began a new product ine of werabe echnolghat caries a 24 month waranty spanst maneture delecs Based on inuty pereice Stevens expects warranty costs to be an amount equal to approximately 9% of total sales dollars. During 20X1, new sales of this technology totaled $3,000,000. The costs incurred to satisfy warranty claims in 20X1 was $96,000 Required: Answer the following two questions Question #1: What should Stevens report as the warranty Expense. balance on its 20X1 income statement? An Question #2: What should Stevens report as the Warranty Liability' balance on its balance sheet at 12/310x