Question 11 44 pts On February 5, Year 2, an employee filed a $2 million lawsuit against Steel Company for damages suffered when one of Steel's plants exploded on December 29, Year 1. Steel's legal counsel expects the company will lose the lawsuit and estimates the loss to be between $500,000 and $1 million In its December 31, Year 1 balance sheet, what amount should Steel report as a liability from lawsuit? O a $2,000,000 b. $1,000,000 O c. $0 O d. $500,000 O e. $750,000 4.4 pts