Prior to standard setters providing explicit guidance for loyalty programs, some firms accounted for such programs in a manner that differed from what was done at Marriott. In particular, when the firm delivered the product or service that gave rise to the point award, those firms would record full amount received from the customer as revenue (i.e., none of the purchase price was attached to the points). Those firms would also accrue expenses for an estimate of the cost they would bear to satisfy the customer point redemptions in the future. For the next two questions, assume that Marriott had always employed this alternative approach and that it accrued expenses equal to the amount of revenue currently attributed to points earned by customers (i.e., Marriott records no gross profits from the loyalty program under the current policy). 27. Under the alternative policy, the amount of revenue recognized by the Company prior to December 31, 2021 (i.e., the sum of all year's revenues) would have been ___________ that reported by the Company. a. greater than b. less than c. the same as 28. Under the alternative policy, the December 31, 2021 retained earnings balance would be ____________ that reported by the Company. a. greater than b. less than c. the same as