How does the stockholders’ equity section in the balance sheet differ from the statement of stockholders’ equity? Multiple Choice There are no differences between them. The stockholders’ equity section shows balances at a point in time, whereas the statement of stockholders’ equity shows activity over a period of time. The stockholders’ equity section is more detailed than the statement of stockholders’ equity. The stockholders’ equity section shows activity over a period of time, whereas the statement of stockholders’ equity is at a point in ti

Analyzing and computing accrued warranty liability and expense waymire company sells a motor that carries a 60-day unconditional warranty against product failure. from prior years' experience, waymire estimates that 2% of units sold each period will require repair at an average cost of $100 per unit. during the current period, waymire sold 69,000 units and repaired 1,000 units. (a) how much warranty expense must waymire report in its current period income statement? (b) what warranty liability related to current period sales will waymire report on its current period-end balance sheet? (hint: remember that some units were repaired in the current period.) (c) what analysis issues must we consider with respect to reported warranty liabilities?