The controller of Tasko Inc. is in the process of computing the bad debt expense for 2022. Unfortunately, a computer virus attacked Tasko's accounting system one night and destroyed the information regarding the approach that Tasko has consistently used for computing the uncollectible accounts expenses for the past 3 years. However the following information is provided by the credit manager. 2020 2021 2022 Accounts receivable, December 31 $149,000 $164,000 $178,000 Allowance for doubtful accounts (credit balance), Dec. 31 Accounts receivable written off during the year 58,000 68,000 72,000 20,500 25,000 36,000 Sales*: Cash 150,000 280,000 320,000 Credit 750,000 700,000 800,000 * Tasko uses the perpetual inventory system and its cost of goods sold is 45% of the sales. The credit manager explains that the large write off in 2021 was due to an unexpected bankruptcy of a major customer even though the age distribution of accounts receivable has been very consistent over the past three years. Required: 1. Calculate the following items: (a) the bad debt expense amount for 2021. (b) the bad debt expense amount for 2022. (c) cash collection from credit sales for 2021. (d) cash collection from credit sales for 2022. 4. What are the impact on Assets, Liabilities, Shareholders' Equity, and Net Earnings, when the uncollectible accounts receivable is written off? Please identify as (1) Increase, (2) Decrease, or (3) No Effect. A Assets B Liabilities C 1 Shareholders' Equity 2 No Effect No Effect No Effect Net Earnings No Effect 5. The controller wants you to determine the approach that Tasko has used by computing the bad debt expense for the past three years so that he can use it for 2023 to comply with accounting principle of consistency. Show your calculations to determine the approach used. Please round your calculations to 2 decimal points. A 1 2 % of Sales 3 % of Accounts Receivable B C 2021 2022