8.The company declared and paid dividends on its common stock totaling $125,000. The accountant on the date of declaration debited Dividend Expense and credited Dividends Payable. Show how the following independent errors will affect Year 3 income before income tax on the Income Statement and the Balance Sheet (Assets, Liabilities, and Shareholders' Equity). Use OVER for overstated, UNDER for understated, and NE for no effect. Include the dollar amount of any misstatement. The company uses the periodic inventorv method. Ignore income taxes