Your answer is partially correct. Try again. Pronghorn Music Emporium carries a wide variety of musical instruments, sound reproduction equipment, recorded music, and sheet music. Pronghorn uses two sales promotion techniques-warranties and premiums-to attract customers. Mus ca nstruments and sound equipment are sold with a one-year warranty or replacement o parts and abor he estimated warranty cost ased on past expenence is 2% c sales. The premium is offered on the recorded and sheet music. Customers receive a coupon for each dollar spent on recorded music or sheet music. Customers may exchange 200 coupons and $10 for an MP3 player. Pronghorn pays $22 for each player and estimates that 60% of the coupons given to customers will be redeemed. Pronghorn's total sales for 2017 were $7,486,000-S5,820,000 from musical instruments and sound reproduction equipment and S1,666,000 from recorded music and sheet music. Replacement parts and labor for warranty work totaled $160,600 during 2017. A total of 6,810 players used in the premium program were purchased during the year and there were 1,314,000 coupons redeemed in 2017 The balances in the accounts related to warranties and premiums on January 1, 2017, were as shown below. Inventory of Premiums Premium Liability Warranty Liability 35,910 42,340 25,300 Pronghorn Music Emporium is preparing its financial statements for the year ended December 31, 2017, Determine the amounts that will be shown on the 2017 tinancial statements for the following. (Round answers to 0 declmal places, e.g. 125) $16400 (a) Warranty Expense (b) Warranty Liability (c) Premium Expense (d) Inventory of Premiums (e) Premium Liability 209520 173020