Problem 13-12 Culver Music Emporium carries a wide variaty of musical instruments, sound reproduction equipment, recorded music, and sheet music. Culver uses two sales promotion techniques-warranties and pramiums-to attract customers Musical instruments and sound equipment are sold with a one-year warranty for replacement of Parts-nd labor. The estimated warranty cost, based on past experience, is 2% of sales. The Premium is offered on the recorded and sheet music. Customers receive a coupon for each dollar pent on recorded music or sheet music. Customers may exchange 200 coupons and S20 for an MP3 Player. Culver Pays $32 for each player and estimates that 50% of the coupons given to customers will be redeemed. Culvers total sales for 2017 were7,320,000-S6, 178,000 from musical instruments and sound reproduction equipment and si, 142,000 from recorded music and sheet music. Replacement Parts and labor for warranty work totaled 170,900 during 2017. A total of 6,880 players used in the premium program were purchased during the year and thare ware 1,148,000 coupons redaemed in 2017 The balances in the accounts related to warrantie and premiums on January 1, 2017, were a shown below. Inventory of Premiums Premium Liability Warranty Liability S 36,750 40.960 148,400 Culver Music Emporium is preparing its financial stataments for the year ended December 31, 2017. Determine the amounts that will be shown on the 2017 financial statements for the following. (Round answers to 0 decimal places, e.g 125.) (a) Warranty Expense (b) Warranty Liability (c) Pramium Expansa (d) Inventory of Premium: (e) Premium Liability Question Attempts: O of 7 used