QUESTION 6 You are the controller for WNC Home Media. During the beginning of January 2020, when the company was adjusting and closing the accounting records for the calendar year 2019, you were home sick with the flu. You, therefore, relied on your assistant to complete much of the work. The company reported net income for 2019 of RM125,000, down from RM140,000 in 2018. In February, after the financial statements have been issued and distributed to the company's investors and creditors, you discover that your assistant overlooked adjustments to insurance expense, depreciation expense and utilties expense resulting in an overstatement of net income by RM12,500. You immediately inform the company president of the overstatement and suggest correcting the errors and re-issuing the financial statements. The company president is concerned that investors were not happy about the lower profits reported in 2019 He feels that 2020 is going to be a better year for the company. Therefore he prefers to keep quiet about the financial statement errors in 2019 and adjust the accounting records for the errors in 2020. Required: (a) Who are the stakeholders in this situation? (b) What are the ethical issues in this situation? (c) What would you do as controller in this situation? (3 marks) (4 marks)