Failing to make the adjustment to record interest earned, but not yet received on a note receivable would cause: an understatement of assets and equity, and an overstatement of net income. an understatement of liabilities, and an overstatement of net income and equity. no effect on assets, liabilities, net income, and equity. an understatement of assets, net income, and equity. O an overstatement of assets, net income, and equity. Given the following information, solve for expenses. Revenue Expenses $250,000 ? Beg. Common Stock $60,000 Plus: Common Stock Issued 8,000 Ending Common Stock 68,000 Beg. Retained Earnings $28,400 Plus: Net Income ? Less: Dividends 17,600 Ending Retained Earnings ? Total Stockholders' Equity $111,600 Expenses are: O $252,400 O $32,800 $217,200 O $43,600 O $234,800 Cathy Company reported the following items on its comparative balance sheet at December 31, 2021, and on its Statement of Cash Flows for the year ending December 31, 2021: Comparative Balance Sheets Dec 31, 2021 Dec 31, 2020 Cash $170,000 $100,000 Statement of Cash Flows For the Period Ending December 31, 2021 Net cash inflows from operating activities Net cash outflows from investing activities $150,000 (90,000) ? Net cash inflows from financing activities Net cash inflows from financing activities during 2021 were: O $10,000 O $170,000 O $40,000 O $70,000 O $110,000