4. Discuss the Tolerable Misstatement situation shown below. audited to be One Hundred Thousand Dollars [$100,000]. Tolerable misstatement of Thirty Thousand dollars [$30,000] is assigned to each of the following four accounts. Unknown errors in each of the accounts are indicated below. Audit work is performed on each account as discussed in class. The client makes any corrections to accounts as suggested by the auditor. After the completion of audit work, the auditor issues an unqualified (i.e. GOoD) auditors' opinion. Was this the correct opinion? Discuss and show any applicable calculations. Unknown error in account before any audit work is done (all accounts are overstated) Account 5 $ 25,000 Cash Accounts receivable Prepaid Assets Property, Plant and Equipment 40,000 20,000 80,000