A company overstated its liability for warranties by $200,000. Its tax rate is 25%. As a result of this error, income tax expense is: Multiple Choice Unaffected Overstated by $50,000. Understated by $50,000 Understated by $150,000 During 2021, T Company engaged in the following activities: Distribution of cash dividends declared in 2020 Fair value of shares issued in a stock dividend Payment to retire bonds Proceeds from the sale of treasury stock (cost: $52) $ 48 220 452 60 In T's statement of cash flows, what were net cash outflows from financing activities for 20212 Multiple Choice $392 5440