1. Financial reporting concepts, foundations, and principles (10 points) For each of the following situations, indicate whether you agree or disagree with the practice described, and list one primary accounting concept/assumption/qualitative criteria/measurement method that is either followed or violated in the situation, and indicate how it is related: 1. Johnson Inc., a listed company, decided to not record the purchase of a pen worth $1. 2. Aaron, the founder of the company, invested $10,000 to his own company as capital. He decided to take several chairs (bought in the name of the company) back home for his own usage. 3. Jenny, the accountant, recorded the purchase of two printing machines in dollar value. 4. Giant Co. must estimate and record a warranty liability and has obtained three estimates - one for $10,000, one for $20,000, and one for $100,000. The company records $10,000, 5. Giant Co. must also estimate and record a tax return and has obtained three estimates one for $1,000, one for $5,000, and one for $20,000. The company records $1,000