If KPB starts depreciating fixed assets over 7 years rather than 10 years, would that affect (1) the physical stock of assets, (2) the balance sheet account for fixed assets, (3) the company's reported net income, and (4) the company's cash position? Assume the same depreciation method is used for stockholder reporting and for tax calculations and that the accounting change has no effect on assets' physical lives. BALANCE SHEET Table IC 3-2. Income Statements Note: a The firm had sufficient taxable income in 2006 and 2007 to obtain its full tax refund in 2008. TABLE IC3-3. Statement of Stockholders' Equity, 2008 If KPB starts depreciating fixed assets over 7 years rather than 10 years, would that affect (1) the physical stock of assets, (2) the balance sheet account for fixed assets, (3) the company's reported net income, and (4) the company's cash position? Assume the same depreciation method is used for stockholder reporting and for tax calculations and that the accounting change has no effect on assets' physical lives. BALANCE SHEET Table IC 3-2. Income Statements Note: a The firm had sufficient taxable income in 2006 and 2007 to obtain its full tax refund in 2008. TABLE IC3-3. Statement of Stockholders' Equity, 2008