kindly, slove both question 4 and 5

Question 4: In its conceptual framework for financial reporting, the IASB describes four characteristics that enhance the decision usefulness of information that is relevant and faithfully represented. What are these characteristics and provide a brief explanation of each. Question 5: a) ABC Corporation has retained earnings of $675,000 at January 1, 2015. Net income during 2015 was $1,400,000, and cash dividends declared and paid during 2015 totaled $75,000. Prepare a retained earnings statement for the year ended December 31, 2015.

b) Using the information from (a) above, prepare a retained earnings statement for the year ended December 31, 2015, but now assume the following error was discovered: a $80,000 error (net of tax) that caused 2014 inventory to be understated.