For each scenario above, state if the situation is a change in policy, a correction of an error, or a change in estimate. Explain your answers. Also state if the situation requires a restatement of retained earnings on January 1, Year 4. What disclosures, if any, are required. Fully discuss any ethical implications related to the scenarios.\ The items of concern are:\ A. Finger Lakes Vacation Sales Corp. has provided a loyalty rewards program to customers for the past 6 years. During that time, the amounts were insignificant, and no revenues were deferred, and no accruals were made. With Year 4 changes to the plan, the amount of rewards has become material. The Controller decided that starting in January, Year 4, Finger Lakes Vacation Sales Corp. will defer the revenue related to these rewards. This will result in a liability.