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Enle Upshaw is the supervising manager of Sleep Tight Bedding. At the end of the year, the company's accounting manager provides Emle with the following information, before ary adiustment. In the previous year, Sieep Tight Bedding reported operating income lafter adjustment) of $293,000. Ernie knows that it's important to report an upward trend in earnings. This is important not only for Ernie's compensation and employment, but also for the company's stock price, If imvestors see a decline in earnings, the stock price could drop significanty. and Ernie owns a targe amount of the company's stock. This has caused Emie many sleepless nights. Required: 1. Recard the adjusting entry for uncolect ble occounts using the accounting managers estimate of 9 s of accounts recelvable. 2-a. After the adjusting entry is recorded in requirement t, what is the revised amount of operating income? 2.b. Does operating income increase or decrease compared to the previous year? 3. Ernie instructs the accounting manager to record the odjusting entry for uncollectible accounts using 4$ rather than 9% of accounts recelvable. After this odjustment, does operating income increase or decrease compared to the previous year? 4. By how nuch would total assets and expenses be misstated using the 4X amount? Complete this question by entering your answers in the tabs below. By how much would total assess and experase be misstated using the 4% amount