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Van Rushing Hunting Goods fiscal year ends on December 31 At the end of the 2016 fiscal year the company had notes payable of $11

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Van Rushing Hunting Goods fiscal year ends on December 31 At the end of the 2016 fiscal year the company had notes payable of $11 4 million due on February 8 2017 Rushing sold 4 0 milion shares of its SO 25 par common stock on February 3. 2017 for $8 0 milion The proceeds from that sale along with S3 4 milion from the maturation of some 3-month CDs were used to pay the notes payable on February 8 Through his attorney one of Rushing s construction workers notified management on January 5. 2017 that he planned to sue the company for S1 million related to a work-site injury on December 20. 2016 As of December 31. 2016 management had been unaware of the injury, but reached an agreement on February 23 2017 to settle the matter by paying the employee s medical bils of $73 600 Rushing s financial statements were finalized on March 3. 2017 Required: 1. What amount(s) if any related to the situations described should Rushing report among current liabiities in its balance sheet at December 31. 2016? (Enter your answer in whole dollars.) 2. What amount(s) if any related to the situations described should Rushing report among long-term liabiities in its balance sheet at December 31.2016? (Enter your answer in whole dollars.) 3.1 What amount(s) if any related to the situations described should Rushing report among current liabiities in its balance sheet at December 31. 2016 if the settlement agreement had occurred on March 15. 2017. instead? (Enter your answer in whole dollars.) 3.2. What amount(s) if any related to the situations described should Rushing report among long-term liabiities in its balance sheet at December 31 2016 if the settlement agreement had occurred on March 15. 2017. instead? (Enter your answer in whole dollars.) 4.1. What amount(s) if any related to the situations described should Rushing report among current liabiities in its balance sheet at December 31. 2016 if the work-site injury had occurred on January 3. 2017 instead? (Enter your answer in whole dollars.) 4.2. What amount(s) if any related to the situations described should Rushing report among long-term liabiities in its balance sheet at December 31 2016 if the work-site injury had occurred on January 3 2017 instead? (Enter your answer in whole dollars.)

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