(a) $ 0 Not a Current Liability On December 20, 2020, a former employee filed a legal action against Vaughn for $109,620 for wrongful dismissal. Management believes the action to be frivolous and without merit. The likelihood of payment to the employee is remote. (b) Bonuses to key employees based on net income for 2020 are estimated to be $195,500. $ 195,500 Current Liability (c) $ On December 1, 2020, the company borrowed $912,000 at 8% per year. Interest is paid quarterly. 18240 Current Liability (d) $ 308793 Not a Current Liability Accounts receivable at December 31, 2020, is $10,293,100. An aging analysis indicates that Vaughn's expense provision for doubtful accounts is estimated to be 3% of the receivables balance. (e) $ 87591 Current Liability On December 15, 2020, the company declared a $2.10 per share dividend on the 41,710 shares of common stock outstanding, to be paid on January 5, 2021. (f) $ 121600 Current Liability During the year, customer advances of $179,500 were received; $57,900 of this amount was earned by December 31 2020