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QUESTION 1 The followings are information about the company XYZ polta Note Em Sales 100 Less Cost of Good Sales: 30 Gross Profit 70

QUESTION 1The followings are information about the company XYZNotaEmSales1 100psLess Cost of Good Sales:30Gross Prof

QUESTION 1 The followings are information about the company XYZ polta Note Em Sales 100 Less Cost of Good Sales: 30 Gross Profit 70 Selling and Administrated Expanses 3 80 Loss for the year 10 Additional Information: This is the original income statement for the company, however, the company conducted creative accounting and fraud to four tema in the statement. This reulted 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.

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