Problem 9 Johnson Co. includes one coupon in each bottle of lotion it sells. In return for 4 coupons, customers receive a face mask that the company purchases for $1.50 each. Johnson 's experience indicates that 60 percent of the coupons will be redeemed. During 2020, 150,000 bottles of lotions were sold, 18,000 face masks were purchased, and 60,000 coupons were redeemed. During 2021, 180,000 bottle of lotion were sold, 24,000 face masks were purchased and 90,000 coupons were redeemed. Instructions Determine the premium expense to be reported in the income statement and the premium liability on the balance sheet for 2020 and 2021. (12 Points)