Required1. Explain why each of the three proposed changes in accounting will res

Required1. Explain why each of the three proposed changes in accounting will result in an increase in net income for the year ending June 30.2. Identify any concerns you have with each of the three proposed changes in accounting from the perspective of GAAP. If these changes are made do the financial statements faithfully represent what they claim to represent? Are these changes merely bookkeeping changes? Explain your answer.3. From an ethical perspective identify any concerns you have with each of the three proposed changes in accounting. Do the proposed changes provide information that is free from bias? Explain your answer.4. Does the controller benefit by making the proposed changes? Are outsiders harmed? Explain your answers in the form of a memo written to the two owners.