Assume a company mistakenly recorded an advance payment for rent as an expense in fiscal year 2021. Specify how this mistake will impact each of the items below in the financial statements for fiscal year 2021. Ignore the impact of income tax expense. Use the Drag and Drop feature. Choose from: Over Stated, Under Stated or No Impact Sales Revenue Drag answer here Over Stated Cost of goods sold Drag answer here No Impact Gross profit Drag answer here Under Stated Operating Expense Drag answer here Operating Income Drag answer here Pre-tax Income Drag answer here Net Income Drag answer here Earnings Per Share Drag answer here Assume a company mistakenly recorded an advance payment for rent as an expense in fiscal year 2021. Specify how this mistake will impact each of the items below in the financial statements for fiscal year 2021. Ignore the impact of income tax expense. Use the Drag and Drop feature. Choose from: Over Stated, Under Stated or No Impact Current assets Drag answer here Over Stated Total assets Drag answer here No Impact Current liabilities Drag answer here Under Stated Total liabilities Drag answer here Contributed capital Drag answer here Retained earnings Drag answer here Stockholders' Equity Drag answer here Dividend Declared Drag answer here Which of the following best describes operating income? Select one: O a. It is net sales minus cost of goods sold and operating expenses. O b. It is sales minus cost of goods sold and income tax expense. O c. It includes the results of discontinued operations. O d. It is before operating expenses