If an entry to adjust depreciation is not recorded at the end of the period, Depreciation Expense on the income statement will be a. understated. b. overstated. c. unaffected because the omitted entry affects two accounts that cancel each other out. d. unaffected because Depreciation Expense is reported on the balance sheet, not on the income statement. The adjusted trial balance is prepared a. after adjusting entries are posted but before the financial statements are prepared. b. prior to completing the adjusting entries. c. only if errors are suspected when problems arise while preparing the financial statements. d. after the financial statements are prepared