An Ethical Perspective Maplehurst Company told by the accountant that $100,000 was a mat Maplehurst Company manufactures large spinning rial item that must be accounted for in a theoretical machines for the textile industry. The company had correct manner, management decided to conside purchased $100,000 of small hand tools to use in the tools as consisting of 10 groups, each having Its business. The company's accountant recorded Cost of $10,000. Because amounts under 20.00 the tools in an asset account and was going to write are considered immaterial for this company, all of th- them off over 20 years. Management wanted to write tools could then be charged to expense in the cur these tools off as an expense of the current year en because revenues this year had been abnormally The accountant is concerned about this treatmen and were expected to be lower in the future. She doubts that she could successfully defend mar Management's goal was to smooth out income rather agement's position if the auditors or others challeng snowing sharp increases and decreases. When the expensing of these items. Is management being ethical in this situation? Explain. Is the accountant correct in believing that management's position could not be successfully defended? Explain. What would you do if you were the accountant? Describe in detail