Tableau Dashboard Activity $12-1$ Use Conservative Versus Aggressive Accounting Estimates

Review the Tableau visualization, and then answer the questions that follow.

At the end of its first year of operations, a company is preparing financial statements but no year$-$end adjusting entries have yet been

made. The company's management provides the following range of estimates:

Future uncollectible accounts are estimated to be $5\%$ to $15\%$ of accounts receivable.

The estimated selling price of ending inventory $($NRV$)$ is $$4,000$ to $$12,000$ below cost.

Equipment purchased during the year will be depreciated over its estimated service life of $6$ to $12$ years.

Future warranty costs are estimated to be $4\%$ to $12\%$ of sales revenue.

Required:

Complete this question by entering your answers in the tabs below.

Select the more aggressive estimate for each of the four adjusting entries. What are the amounts for $($a$)$ net income, $($b$)$ total

assets, and $($c$)$ net cash flows?