Identify how balance sheet quality and earnings quality were impaired in each of the following accounting scandals: Waste Management 1988 - Falsely increased the useful lives of long-lived tangible assets Enron 2001 - Underreported balance sheet long-term debt WorldCom 2002 - Capitalized rather than expensed expenditures to maintain transmission lines AIG 2003 - Booked debt as revenue Lehman Brothers 2008 - Sold toxic assets (i.e., financial investments) to other banks with a buyback agreement, removing the toxic assets from its books.