Taylor Tools, Inc. has sales of $200,000 in Year 1. Taylor warrants its products and estimates warranty expense to be 4% of sales. Which of the following shows how the year end adjusting entry would affect the company's assets, liabilities, and cash flow from operating activities? Multiple Choice O O Total Assets Total Assets Total Assets ($8,000) Total Assets $8,000 Liabilities $8,000 Liabilities $8,000 Liabilities $8,000 Liabilities ($8,000) Cash Flow from Operating Activities Cash Flow from Operating Activities ($8,000) Cash Flow from Operating Activities Cash Flow from Operating Activities

Taylor Tools, Inc. has sales of $200,000 in Year 1 . Taylor warrants its products and estimates warranty expense to be 4% of sales. Which of the following shows how the year end adjusting entry would affect the company's assets, liabilities, and cash flow from operating activities? Mulsiple Choice