Please answer all parts of the question

The CFO of the Walton Microscope Corporation intentionally misclassified a downstream transportation expense in the amount of $595,200 as a product cost in an accounting penod when the company made 9,300 microscopes and sold 7,300 microscopes. Waiton rewards its officers with bonuses that are based on net earnings Required a. Indicate whether the elements on the financiai statements (le., assets, llabiittes, equity, revenue, expense, and net income) would be overstated or understated as a result of the misclassification of the downstream transportation expense. Determine the amount. of the overstatement or understatement for each element. Note: If there is no effect, select "Not affected" from the dropdown provided. Enter all answers as positive values