All of the following transactions are considered material. Indicate if the item would or would not likely have an effect on Net Income reported at the end of the fiscal year.\ \ Sale in the current year of an office building contributed by a stockholder in 1989. \ Yes, this will affect Net Income\ \ Collection in the current year of a receivable from a customer whose account was written off last year by a charge to the allowance account. \ No, this will not affect Net Income.\ \ Settlement based on litigation in the current year of previously unrecognized damages from a serious accident that occurred 3 years ago. \ Yes, this will affect Net Income.\ \ Worthlessness determined in current year of stock purchased on a speculative basis 5 years ago.