Consider the following transactions for Huskies Insurance Company: a. Equipment costing $31,800 is purchased at the beginning of the year for cash. Depreciation on the equipment is $5,300 per year. b. On June 30, the company lends its chief financial officer $33,000; principal and interest at 5% are due in one year. c. On October 1, the company receives $9,200 from a customer for a one-year property insurance policy. Deferred Revenue is credited. Required: Indicate by how much net income in the income statement is higher or lower if the adjustment is not recorded. Transaction Net Income a. b. C. Total