The ink-jet printing division of Environmental Printing has grown tremendously in recent years. Assume the following transactions related to the ink-jet division occur during the year ended December 31, 2021. possible. 1. Environmental Printing is being sued for $9.2 million by Addamax. Plaintiff alleges that the defendants formed an unlawful joint venture and drove it out of business. The case is expected to go to trial later this year . The likelihood of payment is reasonably 2. Environmental Printing is the plaintiff in an $7.2 million lawsuit filed against a competitor in the high-end color-printer market, Environmental Printing expects to win the case and be awarded between $4.7 and $7.2 million. 3. Environmental Printing recently became aware of a design flaw in one of its ink-jet printers. A product recall appears probable. Such an action would likely cost the company between $320,000 and $720,000. Required: Record any amounts as a result of each of these contingencies. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not millions. For example, $5.5 million should be entered as 5,500,000.) View transaction list Journal entry worksheet 1 2 3 Record the contingent liability if needed