Restatement of nancial statements should occur it a company attempts to mislead investors by understating its liabilities. 5. Embedded and extended warranties should be accounted for in the same way. 6. ___ _ When estimating its warranty liability, a company should consider things like the state of the economy. T. ____ Contingent liabilities should be reported on the balance sheet if they are both probable and can be reasonably estimated. 8. __ _ _ Age of accounts payable can help users determine if a company is having trouble paying its bills. 9. ____ Unearned revenue and accounts receivable are examples of current liabilities. 1t]. _ _ __ Liabilities for gift cards and similar items must be