QUESTION 1 The followings are information about the company XYZ: Sales Note m 1 100 Less Cost of Good Sales: Gross Profit 30 70 Selling and Administrated Expanses 3 80 Loss for the year -10 10 points Additional Information: This is the original income statement for the company; however, the company conducted creative accounting and fraud to four items in the statement. This resulted in making a profit for the year instead of losses. Required: Identify four items/accounts with which the company can manipulate and affect the earning quality by overstating the company profit. You need to mention the names of these items/accounts and explain their effects on the income statement.