Lambda Logistics

• Lambda Logistics is suspected of fraudulent asset valuation.
• The balance sheet lists $3,500,000 in assets.
• An independent appraisal values assets at $3,000,000.
• $200,000 in fictitious assets were included.
• $100,000 in asset impairment was not recorded.

Requirement: Determine the true asset value and outline the fraudulent activities related to asset valuation.

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