Kasey Ltd$$s financial statements are authorised for issue on $24$ August $2022.$

Identify whether each of the following would be a liability, a provision or a contingent liability, or none of the above, in the financial statements of Kasey Ltd as at the end of its reporting period of $30$ June $2022.1.$ An amount of $$42000$ owing to Pigz Ltd for services rendered during May $2022.$

$2.$ Long service leave, estimated to be $$350000,$ owing to employees in respect of past services.

$3.$ Costs of $$12000$ estimated to be incurred for relocating an employee from Kasey Ltd$$s head office location to another city. The staff member will physically relocate during July $2022.$

$4.$ Provision of $$40000$ for the overhaul of a machine. The overhaul is needed every $5$ years and the machine was $5$ years old as at $30$ June $2022.$

$5.$ Damages awarded against Kasey Ltd resulting from a court case decided on $26$ June $2022.$ The judge has announced that the amount of damages will be set at a future date, expected to be in September $2022.$ Katz Ltd has received advice from its lawyers that the amount of the damages could be anything between $$50000$ and $$2$ million.