REQUIRED 1) Consider all of your potential errors or misstatements summarized below and revise with a new income statement and balance sheet.2) Prepare a reconciliation of the reported earnings of $294,000 to your final adjusted profitas illustrated below. There are colums to show the impact of any changes on the current ratio. ( Make sure you explain your potential misstatements or errors-give your assumptions) 3) List at least one (1) or (2) audit procedures you would use to test for the possible errors ormisstatements you listed in the schedule below.


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