Hello Experts can you please help me with the CFO attached problem. Thank you in advance.

Today is December I. You are the CEO and CFO of a start-up company that was able to go on 'Shark Tank' on day I and secure a deal with Mark Cuban, hence the ovemight success! The projections for the year end trial balance are as follows. There are some numbers that need your attention. Your total combined bonus is calculated based on 5% of net income. The group with the highest bonus can use their bonus to 'buy' a bonus 1% in our class! The group with the second highest bonus can use their bonus to 'buy' in our class! You will have to make a presentation to a board members explaining your accounting policy choices. From past experience, you know they like to ask a lot of questions, so be prepared to explain what your alternatives were, and WHY you chose the accounting policy. Trial Balance (Projected) Account Accounts Receivable Inventory Investments Equipment (cost) Intangible asset Land (cost) Accounts Payable 30nus payable Unearned Revenue Notes payable Share Capital Retained Eamings Sales Revenue Cost of goods sold Operating expenses Share based payment expense Amortization expense Interest expense Unrealized losses Research expense Note I 31-Dec-19 14,000,000 175,000 700,000 Note I Note 2 Note 3 Note 4 Note 5 Note 9 Note 6 Note 7 Note 9 Note 4 Note 3 Note 8 There has been no provision for doubtful debts taken yet this year _ All sales are on credit. Based on industry average information, collection rates are generally: 99 - 99.5% of credit sales 93 -95% of A/R or broken into aging categories: 0-30 days - (represents 70% of your AR) - collection rate 31-60 days - (represents 20% of your AR) - 95% collection rate