Preparing for balance day, 30 June 2020. Grumpy, the chief accountant for Happy Ltd had the following information: The Provision for Warranty at the beginning of the year was $10,000. The actual costs of warranty repairs during the year were $15,000. Grumpy estimated that the Provision for Warranty at the end of the year would be based on: Total sales $240,000 of which 85% would have no warranty claims and 15% would have only minor claims and no major claims. Grumpy estimates that the Provision for Warranty at 30 June 2020 would be $6,000 Required: (i) Calculate the Warranty expense for the year. (ii) Provide reasons why the end of year provision is less than the beginning of the year even though the cost of warranty was greater than the provision at the beginning of the year. (ii) Explain the effect of the provision at the end of the year on the profit result for the year ended 30 June 2020