Effect of Omitting Adjustment Accrued salaries of $6,750 owed to employees for December 30 and 31 were not considered Indicate which items will be erroneously stated because of the error on when preparing the financial statements for the year ended December 31, 2016. Indicate whether each of the items below will be overstated or understated as a result of the omission. Also indicate which financial statement is affected by each error Account Overstated/Understated Financial Statement Salary expense (or expenses) Net income Salaries payable (orbites) Stockholders' equity (retained earnings)