The following items were discovered during the December 31,2016 audit of the financial statements of Whoosh Corporation:

1.	The company\'s financial statements did not include an accrual for bonuses earned by senior management in 2016 but payable in March 2017 The aggregate bonus amount was $175,000.
2.	Equipment originally costing$550,000 that was fully depreciated with a remaining residual value of$100,000was sold for$120,000 on December 29, 2016. The purchaser agreed to pay for the equipment by January 15, 2017.
3.	Based on close examination of the client\'s aged accounts receivable trial balance and correspondence files with customers, the auditor determined thatmanagement\'s allowance for bad debts is overstated by$42,000.
4.	Expenses totaling$37,000 associated with the maintenance of equipment were inappropriately debited to the equipment account.
5.	Marketing expenses of $29,000 were incorrectly classified as cost of goods sold.
6.	The company received new computer equipment on January 3, 2017 that had been ordered and shipped F.O.B. shipping point to Whoosh on December 27, 2016 No entry has been recorded for this purchase, which was financed by along-term note payable due in full June 30, 2018 Requirement a. Prepare an Unadjusted Misstatement Audit Schedule. (Use a minus sign or parentheses to enter an understatement. For any unknown amounts known to be a possiblemisstatement, enter a "0" under the appropriate column headings. Enter a "0" under any column heading that is affected by the potential misstatement, but for which the net effect to its balance is zero. If a any other box is not used in the table, leave the box empty; do not enter a zero. Enter an amount for each

b. 

Balance sheet and income statement materiality for the audit of Whoosh financial statements is $90,000.What is your conclusion about the financial statements if the audit findings are not corrected by Whooshmanagement before you issue the audit report?\r\n