How is a Prior Period Adjustment reported in the financial statements? Oa On the Income Statement as an Other Comprehensive Income adjustment after Net Income but part of Comprehensive Income Ob. On the Balance Sheet in the Equity section below Retained Earnings. Oc. On the Balance Sheet as an Asset (if positive) and a Liability (if negative) Od On the Statement of Retained Earnings as an adjustment to the beginning balance of Retained Earnings. Oe. On the Income Statement in the non-operating