1. On December 31, 2021, several lawsuits were not settled for XYZ company. The total amount of damages being sought is $10 million Management believes all the lawsuit are not serio Briefly explain how XYZ would address this in its current year's financial statements 2. Information about sunk costs can be found in the financial statements and accounting records, however, information about opportunity costs is omitted. Do you spree with this statement? Explain your answer 3. Explain how a top-selling product may result in losses for the company For the toolba press ALT+F10 PC) O ALTFN+F10 Mac B 1 US Paragraph Arla 10pt TE I. HL X MT: 1 * Q. EB D 1 88 EN EH E + 0