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2:09 Read Only - You can't save changes... 30. 2. Outback Camera Co. was organized...

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2:09 Read Only - You can't save changes... 30. 2. Outback Camera Co. was organized to sell a single product that carries a 60-day warranty against defects. Engineering estimates indicate that 5% of the units sold will prove defective and require an average repair cost of $40 per unit. During Outback's first month of operations, total sales were 400 units; by the end of the month, six defective units had been repaired. The liability for product warranties at month-end should be which of the following? a. $270 b. $530 c. $560 d. $810 e. None of these 3. Dart Corporation's leverage ratio increased from 2.5 in 2013 to 3.0 in 2014. Without looking

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