This ethics case assignment will be used to assess the following competencies Core Ability: Act Responsibly Program Outcome: Apply a code of ethics Course Competency: Explain the importance of ethics in accounting Objectives After completing this module, you should be able to 1. Identify ethical violations that occurred 2. Identify stakeholders and the harm caused by the violation 3. Identify alternatives Assignment The case that you are assigned is EC18 RL Industries. To access this case, click on the "End of Chapter Homework Material" link on the Chapter 18 eBook menu, click on "Ethics Case," and you will see the "EC18" ethics case If you have a paper textbook, turn to the end of the chapter and locate the case in the same section. Read the background information in the textbook and provide your answers with a separate, numbered response for each of the below questions. Each response should contain 1-2 paragraphs. Each paragraph is required to contain 6-8 sentences in your own authentic and original writing, using proper grammar and spelling. If you utilize outside sources, provide the appropriate citation using the MLA format guidelines which can be reviewed in this MLA Formatting and Style Guide from the Online Writing Lab at Purdue. If you would like assistance on writing essays, grammar, and writing in general, take a look at these online writing resources 1. Who are the stakeholders in this situation? 2. Is there anything unethical in the president's actions? 3. Should you as controller remain silent? Does Erin have any responsibility? in the Arname My Computer button below the text editor. If. EC18 Ren Kelly, president of RL Industries, wishes to issue a press release to bolster her company's image and maybe even its stock price, which has been gradually falling. As controller, you have been asked to provide a list of 20 financial ratios and other operating statistics for RL Industries' first-quarter financials and operations. Two days after you provide the data requested, Erin Lourdes, the public relations director of RL, asks you to prove the accuracy of the financial and operating data contained in the press release written by the president and edited by Erin. In the news release, the president highlights the sales increase of 25% over last year's first quarter and the positive change in the current ratio from 1.5:1 last year to 3:1 this year. She also emphasizes that production was up 50% over the prior year's first quarter. You note that the release contains only positive or improved ratios and none of the negative or deteriorated ratios. For instance, no mention is made that the debt to assets ratio has increased from 35% to 55%, that inventories are up 89%, and that although the current ratio improved, the accounts receivable turnover fell from 12 to 9. Nor is there any mention that the reported profit for the quarter would have been a loss had not the estimated lives of RL plant and machinery been increased by 30%. Erin emphasized, "The Pres wants this release by early this afternoon." Instructions a. Who are the stakeholders in this situation? b. Is there anything unethical in the president's actions? c. Should you as controller remain silent? Does Erin have any responsibility? Expand Your Critical Thinking Financial Reporting Problem: Apple Inc. CT18.1 Your parents are considering investing in Apple Inc. common stock. They ask you, as an accounting expert, to make an analysis of the company for them. Financial statements of Apple are available in Appendix A. The complete annual report, including the notes to its financial statements, is available at the company's website