Nelson Company paid $$8,000$ to bank on a loan, of which $$3000$ was for interest and

the rest for payoff of the principal of the loan. Company failed to record this

transaction.

Determine the status of the following items because of the impact of this error using

$"$U$"$ for Understated, $"$O$"$ for Overstated, and $"$N$"$ for Not Impacted.

Example of Answer: $2000$ or $20000$ or N No space, comma, decimal point, or

$sign.

Revenues $=$

Expenses$=$

Net Income $=$

Assets $=$

Liabilities $=$

Stockholders' Equity$=$

Cash flows from Operating Activity$=$

$/$

Cash flows from Investing Activity$=$

Cash flows from Financing Activity$=$