The following errors have been discovered in the corporation's accounting: 1. January 2024 cash disbursements that were entered as at December 2023 included payments of accounts payable in the amount of $34,300. 2. The inventory balance is based on an inventory count that included $27,000 of merchandise that was received at December 31 but with no purchase invoices received or entered. Of this amount, $10,000 was received on consignment; the remainder was purchased f.o.b. destination. 3. Sales for the first four days of January 2024 in the amount of $30,000 were entered in the sales book as at December 31,2023 . Of these, $21,500 were sales on account and the remainder were cash sales. 4. Cash, not including cash sales, collected in January 2024 and entered as at December 31, 2023, totalled $35,324. Of this amount, $23,800 was received on account; the remainder was proceeds on a bank loan. (The amount owed to the bank for January 2024 was included as part of the Notes Payable account.) Instructions a. Adjust (correct) the statement of financial position's current assets and current liabilities sections. b. Using Excel, calculate the current ratio before and after the corrections prepared in part (a). Did the changes improve or worsen this ratio? Use a column chart in Excel to visualize the dollar impact of each correction. c. Calculate the net effect of your adjustments on Agincourt's retained earnings balance. d. Assume that in February 2024, Agincourt approaches its bank for another bank loan, based on its corrected statement of financial position as at December 31, 2023. Also assume that the terms of the new bank loan require that Agincourt maintain a current ratio of 1.5. As Agincourt's bank manager, discuss the importance of recording the adjustments above and correcting the statement of financial position as at December 31, 2023. e. If the adjustments had not been reflected in the statement of financial position provided to the bank manager, do you think the bank manager would have suspected that the financial statements were incorrect? If so, how would the manager have suspected this misstatement