Below are B/S and I/S of ABC Company for 2XX1. As an analyst, you think that "Allowance for Uncollectible Accounts" seems understated. You think the appropriate amount based on industry standard should be $12,000. Restate I/S and B/S as of 12/31/2XX1, assuming "Allowance for Uncollectible Accounts" is $12,000. Assume that tax rate is 40%. Note also that 2XX1 is the 1st year of the ABC Company's business operation and there are $2,000 cash dividends in 2XX1. Current Assets Cash 90,660 Accounts Receivable 80,000 Allow ance for Uncollectible Accounts (8,400) Accounts Receivable, Net 71,600 Inventory 20,000 Investment 13,000 Long-term Assets Equipment 30,000 Accumulated Depreciation (3,000) Equipment, Net 27,000 Deferred Tax Assets, Net 960 Balance Sheet Now Mention As of 12/31/2XX1 Current Liabilities Accounts Payable 30,000 Warranty Liabilities 4,000 Income Taxes Payable 5,600 Long-term Liabilities Bonds Payable 100,000 Discount (4,974) Bonds Payable, Net 95,026 Shareholders' Equity Common Stock 10,000 ($10 par value per re, Issued 1,000 shares, Outstanding 900 shares) APIC 90,000 Retained Earnings 3,594 Treasury Stock (15,000)