Problem 4: Impact of omission on income statement and balance sheet: Suppose that Lora Company's adjusted trial balance ignored the following information. For each item of information, indicate what effects, if any, these omissions would have on the stated components of Lora Company's 2018 Income Statement and 12/31/18 Balance Sheet. Assume no income taxes. Use the following code for your answers and be sure to include the dollar amounts of the effects next to the letter O or U : [First one is a sample response solved for you] N= No Effect O= Overstated U= Understated \begin{tabular}{|l|c|c|c|c|} \hline \multicolumn{1}{|c|}{ Additional Information } & 12/31/18Assets & 12/31/18Liabilities & 12/31/18OwnersEquity & 2018NetIncome \\ \hline $2,000interestonaloanwasnotyetpaidorrecorded & N & U2,000 & O2,000 & O2,000 \\ \hline $10,000ofthepaidandrecordedrentexpensepertainstotheyear2019. & & & & \\ \hline $20,000indepreciationonsomeequipmentwasstillunrecorded. & & & & \\ \hline $4,000incashdividendsdeclaredandpaidinDecember2018wereunrecorded. & & & & \\ \hline Employeeshaveworkedfortheweek,butLoraplanstopaythemnextmonth.Theirtotalsalarieswere$10,000 & & & & \\ \hline $5,000ofunearnedrevenuehasbeenearnedbutremainsunrecorded. & & & & \\ \hline \end{tabular}