..... company is facing financial distress and is evaluating whether it should undergo a restructuring plan, including asset impairments, layoffs, and plant closures. Discuss the accounting treatment for each aspect of the restructuring plan, including the recognition of restructuring expenses, asset impairments, and the presentation of these items in the income statement, balance sheet, and related disclosures. Additionally, explain the impact of the restructuring plan on the company's financial ratios and disclosures to shareholders and investors.

These questions are designed to challenge your understanding of complex financial accounting concepts and require a comprehensive knowledge of accounting principles and regulations to answer effectively.