Client C Company agrees to pay Client the following incremental volume incentive based on annual Caf and Catering Sales at all Locations under this Agreement: Annual Combined Net Caf & Catering Sales Volume Incentive $8,000,000-$9,999,999 = 4.00% $10,000,000-$11,999,999 = 4.25% $12,000,000-$14,999,999 = 4.50% $15,000,000-$16,999,999 = 5.00% $17,000,000+ = 5.50% P&L Reporting From Period 1, 2015 To Period 12, 2015 Profit Center: Client C 9 Period TOTAL SALES NET PRODUCT COST TOTAL PERSONNEL COST TOTAL OTHER COSTS PROFIT (LOSS) YTD PROFITULOSS) 1.2015 1,732,040 1,187,541 1,133,232 2.2015 1,611,670 904,283 959,757 246,569 (498,939) |(1,385,265) 3.2015 1,858,902 953,846 982,787 270,103 (347,834) (1,733,099) 4,2015 5.2015 6, 2015 1,619,261 1.842,207 1,802,562 891,832 970,109 1 009,812 1.029,647 963,413 1.045,159 237,250 250,486 223,110 (539,468) (341,8011 (475,529) (2,272,567) (2,614,368) (3,089,897) 7.2015 2,207,373 1,096,504 1,123,650 291,457 (304,238) (3.394,135) 8.2015 2,024,065 1.008.839 1,001,210 284,196 (270,180) (3.664,315) ,2015 10,2015 11, 2015 1,881,086 2,047,443 1.530,778 982,144 1,069,752 890,088 956,945 1,075,766 908,111 300,564 304,549 249,987 (358,567) (402,624) (517,408) (4,022,882) (4,425,506) (4,942,914) 12, 2015 1,845,760 965,530 922,431 268,456 (310,657) (5,253,571) TOTAL 22,003,137 11,830,280 12,102,108 3.224,320 (5,253,571) (886,326) (886,326) Question #1: Would the company have a liability to the client at the end of period 4, 2015? Please show your calculation and provide any entries necessary to properly state the financials in that period of time. Question #2: Would the company have a liability to the client at the end of period 7, 2015? Please show your calculation for the incremental changes and provide any entries necessary to properly state the financials in that period of time