Question: Part A: You are the financial manager of XYZ Corporation, a multinational company operating in multiple countries. In the last fiscal year, the company reported significant changes in its financial statements, including a substantial increase in revenue and a decrease in expenses. Additionally, the company expanded its operations by acquiring a competitor, which resulted in the issuance of new shares of common stock. Explain, in detail, the accounting principles and methods you would use to: 1. Assess the impact of the acquisition on the company's financial statements, including its balance sheet, income statement, and cash flow statement. 2. Ensure that the newly issued shares of common stock are accurately reflected in the company's financial statements, considering both the initial issuance and any subsequent transactions related to these shares. Part B: Continuing from Part A, assume that XYZ Corporation has a significant amount of long-term debt, including bonds issued to finance its expansion and ongoing operations. The company is now contemplating refinancing some of this debt due to favorable interest rate changes in the market. 1. Describe the steps and considerations you would undertake as the financial manager to evaluate the feasibility of refinancing the company's long-term debt. Include in your response the potential impact of refinancing on the company's financial statements, particularly the balance sheet and income statement. 2. Discuss the accounting treatment for any costs associated with the debt refinancing, such as bond issuance costs or early redemption penalties, and how these costs should be recognized in the company's financial statements. In your responses, be sure to reference relevant accounting standards and principles and provide a comprehensive analysis of the accounting implications for each scenario