M8-9. Analyzing and Determining Liability Amounts For each of the following situations, indicate the liability amount, if any, that is reported on the balance sheet of Heller, Inc., at December 31, 2014.

a. Heller owes $110,000 at year-end 2014 for inventory purchases.

b. Heller agreed to purchase a $28,000 drill press in January 2015.

c. During November and December of 2014, Basu sold products to a customer and warranted them against product failure for 90 days. Estimated costs of honoring this 90-day warranty during 2015 are $2,200.

d. Heller provides a profit-sharing bonus for its executives equal to 5% of reported pretax annual income. The estimated pretax income before the bonus for 2014 is $600,000. Bonuses are not paid until January of the following year.

I am trying to figure out how to answer this question any help is much obliged.