Determine the impact of the following independent accounting errors on total assets, total liab lime left 0:28:56 equity, and net income Accounting error Total Assets Total Liabilities Total Equity Net Income Depreciation of $2,500 was Understated : No Impact Understated Understated recorded as $5,200 Purchase of supplies on account for 3,000 was recorded as debit No Impact No Impact No Impact No Impacto supplies 3000 and credit cash 3000 in advance payment of $2,000 rent, was recorded as rent Understated : No Impact Understated : Understated expense $200 to cash $200 The purchase of $5,000 inventory No Impact Understated . No Impact for cash was not recorded. The accountant recorded the annual depreciation of $5,000 as Hollow: Debit Depreciation Overstated Overstated Understated Expense $50,000 and credit Equipment $50,000 The company incurred wages with an amount of $3,000 that No Impact Understated : were not recorded a