(Solved): please help! Adjusting Balance Sheet and Income Statement for Asset Disposal we want to adjust Ameri ...

Adjusting Balance Sheet and Income Statement for Asset Disposal we want to adjust American Airlines' financial statements for each of the past five years (including the current year). Assume that the company's tax rate is $22\%$. a. For the income statement effects related to the gain on asset disposal, identify with numbers the adjustments for each of the five years 2015 to 2019 for the following line items. Note: Use a negative sign to indicate if an adjustment decreases an account balance. Note: Round answers to two decimals (for example, enter 14.56 for 14.55555). b. For the balance sheet effects related to the gain on asset disposal, identify with numbers the adjustments for each of the five years 2015 to 2019 for the following line items. Note: Use a negative sign to indicate if an adjustment decreases an account balance. Note: Round answers to two decimals (for example, enter 14.56 for 14.55555). c. What purpose is there to adjusting the income statement and balance sheet? To correct for overstated depreciation expense across years