The following information is available for Alvarez Co regarding the warranty Alvarez offers on the product it sells. Warranty liability balance at 12/31/20 $147.000 Units of product sold during 2021 100.000 Number of units that failed during 2021 and were returned by customers requesting replacement Cash refunds issued to customers during 2021 S109.800 Estimate of units sold that will fait Cost per unit to refund purchase price to customers divat purchased failed units 1.800 39 361 Explain what Alvarez's 2021 income statement should contain relating to warranties and what Alvarez's December 31, 2021 balance sheet should show regarding warranties