1. Assume that Oceanviews long term debt to owners equity makes you believe that it cannot remain in business for much longer and that it is discussed, along with managements plans, in Note 8 of the financial statements. Type out the paragraph you would add to the Standard Report based on this information.
2. Assume that Oceanview has recorded sales of $70,000 at the end of the period that you believe should not have been recognized until the next fiscal year. Management refuses to adjust the financial statements, so you decide to issue a qualified opinion. Type out the two paragraphs that you would add to/modify in the Standard Report based on this information.