Problem:
As officers of One-Hundred-Percent Vitamin Co., Sally and Ed have hired you as an outside accountant to advise them on how the accounting treatment can affect their revenues and expenses.
Deliverable Research and explain how leasing versus purchase of fixed assets would affect profit (either by increasing or decreasing profit). In addition, also designate which method is approved by GAAP.
Summarize your findings in a 1-page word document and list references.