In 2022, Mike's Bikes sells 1,000 bicycles. The company expects 2% of the bicycles to require warranty service. On average, servicing the bicycles returned for warranty costs $40 per bike. On January 1st 2023, Lance Armstrong brings in his bicycle for warranty service and it costs $50 to fix the bike. How much should Warranty Expense be recorded at on the 12/31/2022 income statement