Boise Inc. pays its rent of $63,000 annually on January 1. If the February 28 monthly adjusting entry for prepaid rent is omitted, which of the following will be true Select one: a. Assets will be overstated by $10,500 and net income and owner's equity will be understated by $10,500. O b. Assets will be overstated by $5,250 and net income and owner's equity will be overstated by $5,250. c. Expenses will be overstated by $5,250 and net income and owner's equity will be understated by $5,250. d. Failure to make the adjustment does not affect the February financial statements