Assume that Besley Golf Equipment commenced operations on January 1, 2014, and it was granted permission to use the same depreciation calculations for shareholder reporting and income tax purposes. The company planned to depreciate its fixed assets over 15 years, but in December 2014 management realized that the assets would last for only 10 years. The firm's accountants plan to report the 2014 financial statements based on this new information. How would the new depreciation assumption affect the company's financial statements? a. The firm's reported net fixed assets would increase. b. The firm's reported 2014 earnings per share would increase. C. The firm's EBIT would increase. d. The firm's cash position in 2014 and 2015 would increase. e. The provision will increase the company's tax payments. 5:04 pm Assume that Besley Golf Equipment commenced operations on January 1, 2014, and it was granted permission to use the same depreciation calculations for shareholder reporting and income tax purposes. The company planned to depreciate its fixed assets over 15 years, but in December 2014 management realized that the assets would last for only 10 years. The firm's accountants plan to report the 2014 financial statements based on this new information. How would the new depreciation assumption affect the company's financial statements? a. The firm's reported net fixed assets would increase. b. The firm's reported 2014 earnings per share would increase. C. The firm's EBIT would increase. d. The firm's cash position in 2014 and 2015 would increase. e. The provision will increase the company's tax payments. 5:04 pm