Bosse Inc. pays its rent of $53,000 annually on January if the February 28 monthly adjusting entry for prepaid rent is omitted, which of the following will be true Select one: Ca. Expenses will be overstated by $5.250 and net income and owner's equity will be essers will be overstated by $5,250 and net income and owner's equity will be overstated Failure to make the adjustment does not affect the February financial statements. d. Assets will be overstated by $10,500 and net income and owner's equity will be understated by $10.500