Presented below are selected qualitative characteristics of financial information. 1. Relevance 2. Neutrality 3. Verifiability 4. Timeliness 5. Faithful representation 6. Comparability 7. Understandability For each of the following situations, indicate which qualitative characteristic was violated!? a. Allen Ltd. reported its merchandise inventory at a net realizable value of $25,000. The company's auditors disagree with this value and estimated the net realizable value to be $20,000. b. Owens Corporation does not issue its anmal financial statements for the year ended December 31.2023, until December 2024. c. Silver Mining L.td. is the only company in the mining industry that uses the straight-line method to depreciate its mining equipment