Content James Branch is the president of Root Corporation, a publicly traded corporation. At the beginning of the year, Branch incorrectly predicted the company's earnings would increase by 25% by end of the year. Unfortunately, sales have been less than what was originally forecasted, and in the final quarter, Branch determined that significant action needed to be taken to meet earnings projections. Therefore, Branch directed all expenditures that could be postponed to the following fiscal year be postponed including purchases from suppliers, repairs and maintenance on factory equipment, employee training, advertising, and travel. Branch expects substantial inventory on hand at end of the year and encouraged its controller to scrutinize all costs and reclassify as many period costs as product costs. Content should be organized as follows: Write a brief introduction of the situation. List the different costs the president requested to be postponed to the next fiscal year and describe their classification, including the impact of postponing the costs on corporate earnings. Explain the effect of reclassifying period costs to product costs on corporate earnings. Explain whether you believe the president's actions are ethical. Address the postponement and reclassification of expenses separately. Why or why not? Provide a