The following are a selection of circumstances relating to various different litigation involving Cooper Inc., a US-based company that reports in US GAAP. Cooper's fiscal year end is December 31, 2018 and it will 2018 financial statements will be issued in March 2019 (when Cooper files is 2018 10-K with the SEC). In your answer, describe how Cooper would need to account for each scenario. This includes recognizing (Dr/Cr) and expense/liability that needs to be recorded, or disclose the information in a footnote. 1) Cooper is defending against a lawsuit. Cooper's management believes the company has abut a 50/50 change of losing the case. If Cooper loses the case, the judgement against Cooper will be $1,000,000. 2) Cooper is defending against a lawsuit. Cooper's management believes it is probably the company will lose in court. Management estimates that the damages could fall in the range of $2,000,000 to $4,000,000. Damages in this range are equally likely. 3) Cooper is defending against a lawsuit. Cooper's management believes it is probably the company will lose in court. If it loses in court, Cooper estimates that the loss will be $4,000,000, but since the award will be paid many years in the future, the present value is $3,200,000. 4) Cooper is a plaintiff in a lawsuit. Management believes that it is probably that Cooper will prevail in court, and that if it prevails, the aware will be $1,500,000. 5) Cooper is a plaintiff in a lawsuit. Management believes that it is virtually certain that the company will prevail in court, and when it prevails, the aware will be $3,000,000