need answer in 15 min

16. Interpret the effect of the following Five independent events and transactions for the: a. Accounts receivable turnover (equals 4.0 prior to the event). b. Days' sales in receivables. C. Inventory turnover (equals 4.0 prior to the event). The three columns to the right of each event and transaction are identified as (a), (b), and (c) corresponding to the three liquidity measures. For each event and transaction indicate the effect as an increase (0); decrease (D); or no effect (NE). a b Events and Transactions Beginning inventory overstatement of OMR1,000 is corrected this period. Under the lower-of-cost-or-market method inventory is reduced to market by OMR2,000. Obsolete inventory of OMR3,000 is identified and written off. Beginning inventory understatement of OMR2,000 is corrected this period. Sales on account are understated by OMR10,000 and corrected this period