and the 2021 net income as well

all the options are : No effect, overstated, understated

thank you

Suppose that Laramie Company's adjusted trial balance ignored the following information. For each item, indicate what effects, if any, these omissions would have on the stated components of Laramie Company's 2021 Income Statement and 12/31/2021 Balance Sheet. Assume no income taxes. 12/31/2021 Assets 12/31/2021 Liabilities 12/31/2021 Owners Additional Information $4,200 in cash dividends declared and paid in December 2021 were unrecorded