Tableau Dashboard Activity 12-1 Use Conservative Versus Aggressive Accounting EstimatesReview the Tableau visualization, and then answer the questions that follow.Sales RevenueCost of Goods SoldDepreciation ExpBad Debt ExpWarranty ExpIncome StatementNet Income$80,000$0$50,000$100,000$150,000$200,000Balance SheetCashAccounts ReceivableAllowance for Uncol AcctsInventoryEquipmentAccum DeprTotal AssetsAccounts PayableWarranty LiabCommon StockRetained EarningsTotal Liab and EquitiesOperating Cash FlowsInvesting Cash FlowsFinancing Cash Flows$275,000Uncollectible Accounts EstimateⒸ Before Adjustment5% of Accounts Receivable15% of Accounts ReceivableLower of Cost or NRV EstimateⒸ Before AdjustmentⒸ $4,000 NRV Below Cost$12,000 NRV Below CostDepreciation EstimateBefore Adjustment6 Years12 YearsWarranty EstimateBefore Adjustment4% of Sales Revenue12% of Sales RevenueRisk AnalysisCurrent Ratio Debt-to-Equity Rat..10.35.8%Profitability AnalysisGross Profit Ratio Profit Margin$0$50,000 $100,000 $150,000 $200,000$275,000$250,000 $300,00040.0%40.0%Statement of Cash FlowsNet Cash Flows$35,000($100,000) ($50,000)$0$50,000 $100,000 $150,000*View on Tableau PublicAt the end of its first year of operations, a company is preparing financial statements but no year-end adjusting entries have yet beenmade. The company's management provides the following range of estimates:Future uncollectible accounts are estimated to be 5% to 15% of accounts receivable.The estimated selling price of ending inventory (NRV) is $4,000 to $12,000 below cost.Equipment purchased during the year will be depreciated over its estimated service life of 6 to 12 years.Future warranty costs are estimated to be 4% to 12% of sales revenue.Required:Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3 Required 4Select the more aggressive estimate for each of the four adjusting entries. What are the amounts for (a) net income, (b) totalassets, and (c) net cash flows?Amount for net incomeAmount for total assetsAmount for net cash flowsShare

Solution:-The image features a Tableau dashboard showcasing an Income Statement, Balance Sheet, and…

Review the Tableau visualization, and then answer the questions that follow. Sales Revenue Cost of Goods Sold Depreciation Exp Bad Debt Exp Warranty Exp Income Statement Net Income $80,000 $0 $50,000 $100,000 $150,000 $200,000 Balance Sheet Cash Uncollectible Accounts Estimate Before Adjustment 5% of Accounts Receivable 15% of Accounts Receivable Lower of Cost or NRV Estimate Ⓒ Before Adjustment Ⓒ$4,000 NRV Below Cost $12,000 NRV Below Cost Depreciation Estimate Before Adjustment Ⓒ 6 Years 12 Years Warranty Estimate Before Adjustment 4% of Sales Revenue 12% of Sales Revenue Accounts Receivable Allowance for Uncal Accts Inventory Equipment Accum Depr Total Assets Accounts Payable Warranty Liab Common Stock $275,000 Risk Analysis Current Ratio Debt-to-Equity Rat.. 10.3 5.8% Profitability Analysis Retained Earnings Total Liab and Equities $0 $50,000 $100,000 $150,000 $200,000 $275,000 $250,000 $300,000 Gross Profit Ratio Profit Margin 40.0% 40.0% Statement of Cash Flows Operating Cash Flows Investing Cash Flows Financing Cash Flows Net Cash Flows $35,000 ($100,000) ($50,000) $0 $50,000 $100,000 $150,000 *View on Tableau Public DCDOV | Q• 8 Share At the end of its first year of operations, a company is preparing financial statements but no year-end adjusting entries have yet been made. The company's management provides the following range of estimates: Future uncollectible accounts are estimated to be 5% to 15% of accounts receivable. The estimated selling price of ending inventory (NRV) is $4,000 to $12,000 below cost. Equipment purchased during the year will be depreciated over its estimated service life of 6 to 12 years. Future warranty costs are estimated to be 4% to 12% of sales revenue. Required: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Select the more aggressive estimate for each of the four adjusting entries. What are the amounts for (a) net income, (b) total assets, and (c) net cash flows? Amount for net income Amount for total assets Amount for net cash flows