Please kindly answer in excel or provide screenshots of your filled-in tables.

For each of the following potential unrecorded liabilities, determine the effects of the omission on both the balance sheet and income statement of the client. Assume that the inventories recorded on the balance sheet reect the results of a yearend {December 31} physical inventory. {If there is no effect select "No effect" from dropdown.) a. An invoice for $3,000 worth ofinventory items, dated January'l and bearing terms of FOE destination, was not recorded. The goods were shipped December 2? and were received on December 30. (1) Balance sheet eed: (2) Income statement eect: b. An invoice for $5,500 worth of inventory items, dated December 30 and bearing terms of FOB destination, was not recorded. The goods were shipped December 28 and received January 2 (1) Balance sheet effect: No eltect (2) Income statement eed: , Overstatement of net Income before taxes Understatement of assets and liabilities Understatement of cost of goods sold Understatement of expenses I._|nderstaternent or' liabilities