Problem 13-12 Sheridan Music Emporium carries a wide variety of musical Instruments, sound reproduction equipment recorded music, and sheet music. Sheridan uses two sales promotion techniques-warranties and premiumst ract customers Musical Instruments and sound equipment are sold with a tye warranty for replacement of parts and labor. The estimated warranty cost, based on past experience is I of sales The premium is offered on the recorded and sheet music. Customers receive a coupon for each dollar spent on recorded music or sheet music. Customers may exchange 200 coupons and $20 for an MP3 player. Shendan pays $32 for each player and estimates that 70% of the coupons given to customers will be redeemed Sheridan's total sales for 2020 were 36,694,000-$5.234 000 from musical instruments and sound reproduction equipment and $1.460.000 from recorded music and sheet music Replacement parts and labor forwarty work totaled 83.000 during 2000 (539.500 of the work is related to pre-2020 s). A total of 6,470 players used in the premium program were purchased during the year and there were 10.000 o r e 2020 The balance in the accounts related to warranties and so lanuary 1, 2020, were as shown below Premium Inventory Premium La Warranty by S60 45.000 51,100 Shardan is preparing t o the year ended December 31, 2000 mine the amounts that will be shown on the 2020 financial statements for the following () Way (c) Premium Expense (d) Pe t ry Click of you woude to Show work for this