Assume you are auditing the financial statements of Manning Co. The following is a summary of the uncorrected misstatements that were identified during the past three years' audits. This misstatement is immaterial and related to isolated matters. (In the summary, parentheses imply that the misstatements would have reduced balances if they had been corrected (e.g., in 2017, the misstatements would have reduced net income by $82,500, assets by $100,000, liabilities by $17,500, and equity by $82,500 if corrected.) During the recent audit, you concluded that expenses totaling $130,000 were recognized in January 2021 (when Manning paid them) but should have been recognized in 2020. a. How does the misstatement identified in 2020 affect net income, assets, liabilities, and equity? (Assume a 21% tax rate for Manning.) b. Describe the rollover method of evaluating uncorrected misstatements. Assume that materiality was set at $180,000. How would you evaluate the materiality of the misstatement under the rollover method? What adjustments if any should be proposed? c. Describe the iron curtain method of evaluating uncorrected misstatements. Assume that materiality was set at $180,000. How would you evaluate the misstatement under the iron curtain method? What adjustments if any should be proposed? d. If materiality were established at $100,000 for Manning, would this change your evaluation of the misstatement (under both methods).? e. What adjustments, if any would you propose to Manning's F/S under each method