The bullet points beneath a one-line mission statement often serve as

a. lesser goals to consider for the future.
b. value statements to show how the mission will be achieved.
c. a timeline for achieving the company's goals.
d. a reminder of the one-line statement.

Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?