At April 1, Majan Company reported a balance in Supplies of $360. During April, the company purchased supplies for $1,350 and consumed supplies of $1,440. If no adjusting entry is made for supplies Select one O a. Expenses will be understated by $1,350. O b. Net income will be understated by $1,440. O c. Assets will be overstated by $1,440. O d. Equity will be understated by $1,440