If the accountant at Oyster Corporation made a mistake in 2020 and did not record the fact that unearned revenue (which had been received in 2019) was earned in 2020, which of the following would be true?

Group of answer choices

Both assets and liabilities would be overstated.

Liabilities would be overstated, and revenue would be understated.

Both liabilities and net income would be overstated.

Both assets and liabilities would be understated.

Assets would be overstated, and revenue would be understated.