Ernle Upshaw Is the supervising manager of Sleep Tight Bedding. At the end of the year, the company's accounting manager provides Ernie with the following information, before any adjustment. In the previous year, Sleep Tight Bedding reported operating income (after adjustment) of $293,000. Ernle knows that It's Important to report an upward trend in earnings. This is important not only for Ernle's compensation and employment, but also for the company's stock price. If investors see a decline in earnings, the stock price could drop significantly, and Ernle owns a large amount of the company's stock. This has caused Ernle many sleepless nights. Requlred: 1. Record the adjusting entry for uncollectible accounts using the accounting manager's estimate of 9% of accounts recelvable. 2-a. After the adjusting entry is recorded in requirement 1 , what is the revised amount of operating income? 2-b. Does operating income increase or decrease compared to the previous year? 3. Ernie Instructs the accounting manager to record the adjusting entry for uncollectible accounts using 4% rather than 9% of accounts recelvable. After this adjustment, does operating income increase or decrease compared to the previous year? 4. By how much would total assets and expenses be misstated using the 4% amount