FORUM DESCAPRON is $1.000 a material amount for all companies? Is it ok to ignore GAAP if the amounts involved are inmaterial? Explain. Besides airlines, can you think of other industries that have lots of unearned revenues to deal with receive cash before earning the revenue)? Lastly, if an airline or other company that receives cash before it performs the service or delivers its products somehow forgot and decided to call the cashme menu eamed instead of correctly recording it as unearned revenue, what impacts would that have on the financial statements especific Does retained earnings get closed out at year-end? Is retained earnings the same thing as net income? Briefly explain