Over/Under: Alpha paid $1,000 cash for supplies and recorded it as a debit to Supplies Expense and a credit to Cash. Alpha failed to record an AJE for the supplies that were used. Failure to record an AJE has what effect on assets, liabilities, and net income?

Asset: ____________no effect, overstated, understated

Liabilities: __________no effect, overstated, understated

Equity:______________ no effect, overstated, understated