I would like to thank everyone who posted to this topic.
Thanks for the help.

It was indeed the master cylinder that was leaking into the booster
its was almost ready to start seeping out of the booster.
I used the topsider to suck the brake fluid out of the booster.

As far as the SRS warning light, I found the wire connector behind the air bag
had disconnected.

Again, thanks everyone for your help.