Effects of Errors The bookkeeper of Midwest Legal Services Corporation included the cost of a new computer, pur- chased on December 30 for $9,000 and to be paid for in cash in January, as an operating expense instead of an addition to the proper asset account. What was the effect of this error ("no effect," "over- stated," or "understated"?-use symbols n, o, or u, respectively) on:

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1. Operating expenses for the year ended December 31 2. Profit from operations for the year 3. Retained earnings as of December 31 after the books are closed 4. Total assets as of December 31 5. Total liabilities as of December 31