Amman Corporation purchased a one-year insurance policy in January 2018 for $48,000. The insurance policy is in effect from May 2018 through April 2019. If the company forgets to make the proper year-end adjustment for the expired insurance. This will lead to: AO .Net income and assets will be understated by $32,000 .Net income and assets will be overstated by $32,000 Net income and assets will be understated by $16,000 .Net income and assets will be overstated by $16,000 D