Consider the following transactions for Huskies Insurance Company: a. Equipment costing $36,600 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,100 per year. b. On June 30, the company lends its chief financial officer $41,000: principal and interest at 7% are due in one year. c. On October 1, the company receives $12,400 from a customer for a one-year property insurance policy. Deferred Revenue is credited. Indicate by how much net income in the income statement is higher or lower if the adjustment is not recorded