ABC purchased supplies costing 3,500 on January 2, 2018 and recorded the transaction by increasing assets. At the end of the year, 2,300 of the supplies are still on hand. If ABC does not make the appropriate adjusting entry, what is the impact on its statement of financial position at December 31, 2018? O a. Assets overstated by 1,300. b. Equity understated by 1,200. O c. Assets overstated by 1,200. O d. None of the given answers is correct. O e. Equity overstated by 1,300