fiscal 2017 was an outstanding year for esterhazy inc esterhazy for a variety of reasons the companys sales surged and net income was going to exceed financial/

Required:
a. Explain the effect of the writedown on the 2017 financial statements as well as the implications for subsequent years’ financial statements.
b. Explain how users of the financial statements would be affected by the writedown and how the financial statements should be interpreted as a result of recording the writedown.
c. Why do you think Esterhazy chose to write down the assets?
d. Does it matter that Esterhazy wrote down these assets? Explain.