Required information (The following information applies to the questions displayed below.) On October 29, 2017 Lobo Co. began operations by purchasing razors for resale, Lobo uses the perpetual inventory method. The razors have a 90-day warranty that requires the company to replace any nonworking razor. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is $15 and its retail selling price is $70 in both 2017 and 2018. The manufacturer has advised the company to expect warranty costs to equal 6% of dollar sales. The following transactions and events occurred. 2017 Nov. 11 Sold 50 razors for $3.500 cash. 1 30 Recognized warranty expense related to November solen with an adjusting entry. Dec. 9 Replaced 10 razors that were returned under the warranty. 16 Sold 150 razors for $10.500 canh. 29 Replaced 20 rators that were returned under the warranty. 31 Recognized warranty expense related to December sales with an adjusting entry. 2018 Jan. 5 sold 100 razors for 57.000 cash 17 Replaced 25 razors that were returned under the warranty 31 Recognised warranty expense related to January sales with an adjusting entry 5. What is the balance of the Estimated Warranty Llobility account as of January 31, 2018? Estimated warranty ability balance