The following selected circumstances relate to pending lawsuits for Erismus, Inc. Erismus's fiscal year ends on December 31 . Financial statements are issued in March 2022. Erismus prepares its financial statements according to IFRS. Required: Indicate the amount Erismus would record as an asset, a llability or if no acrual would be necessary in the following circumstances. 1. Erismus is defending against a lawsult. Erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $2,200,000. 2. Erismus is defending against a lawsult. Erismus's management believes it is probable that the company will lose in court. If it loses, management believes that damages could fall anywhere in the range of $3,200,000 to $5,200,000, with any damage in that range equally likely. 3. Erismus is defending against a lawsult. Erismus's management believes it is probable that the company will lose in court. If it loses, management believes that damages will eventually be $6,200,000, with a present value of $4,700,000. 4. Erismus is a plaintiff in a lawsuit. Erismus's management believes it is probable that the company oventually will prevali in court, and thot if it prevails, the judgment will be $2,200,000. 5. Erismus is a plaintiff in a lawsuit. Erismus's management believes it is virtually certain that the company eventually will prevall in court, and that if it prevails, the judgment will be $1,100,000