Berkshire Hathaway Inc. is preparing its financial statements for 2023. The financial data includes:

Transactions (in $ millions)	Amount
Cash Sales	700,000
Credit Sales	350,000
Cash Payments	400,000
Accounts Receivable	140,000
Investment Expenses	250,000
Estimated Investment Losses	60,000

Requirements:

• Prepare Berkshire Hathaway Inc.'s income statement for 2023 using the modified cash basis.
• Calculate net income considering the conservatism principle.
• Discuss the impact of estimated investment losses on financial statements.
• Analyze the treatment of accounts receivable and investment expenses under the conservatism principle.