30. If the adjusting entry to record the accrued interest revenue is omitted:

Select one:

a. net income would be overstated and liabilities would be overstated.

b. net income would be understated and assets would be understated.

c. net income would not be affected but assets would be overstated.

d. no impact on both net income and assets.

31. Presented below is the adjused trial balance columns on a worksheet of Kimberly Company for the year ended December 31, 2018. Using this adjusted trial balance to answer questions 31 and 32: Adjusted Trial Balance Account Titles Debit Credit ______________ _____ _____ Cash 1,000 Supplies 300 Prepaid Insurance 2,000 Equipment 24,000 Accumulated Depreciaton- Equipment 49,000 Accounts Payable 2,400 Notes Payable 4,000 Rent Payable 600 Common Stock 5,300 Retained Earnings 10,000 Dividends 2,400 Copy Revenue 4,900 Utility Expense 400 Supplies Expense 800 InsuranceExpense 200 Depreciation Expense 400 Rent Expense 600 ________ ________ Totals 32,100 32,100 What is the net income (net loss) of Kimberly Company for the year ended December 31, 2018?

Select one:

a. net income, $2,500.

b. net income, $4,500.

c. net income, $100.

d. net loss, ($1,500).