Question 4 [10 points) Star Inc. extends a lifetime warranty on alhockey sticks sold Using past experience, the company estimates that of hockey sticks sold will be returned and replaced at an average cost of 10 per hockey stick On January 1, 2014, the balance in Star Inc.'s Estimated Warranty Liability account was $7,500. During 2014, sales totalled 635.500 15.500 hockey sticks. The actual umber of hockey sticks returned and replaced was 431 Prepare the following umarte Estimated warranty labies for its sold during 2014. Use the date December 31, Replacement of the units returned in 2014(e the date December 31) Enter an appropriate description, and enter the dates in the format ddim ( 15 ) Page Data Acoplanation F Credit (2) Calculate the balance in the Entmated Warranty Liability account of December 31, 2014, and the Warranty Experts that will appear on the income statement for the year ended December 31 2014 Balance of Estimated Warranty Labaty Des 31 Warranty Exportait appears on the income Sobre