Question 11 Not yet answered Assume a company recorded an adjusting entry that was required to adjust for the portion of prepaid expense that had been incurred during fiscal year 2021 Specify how recording this transaction impacted each of the items below in the financial statements for fiscal year 2021. Ignore the impact of income tax expense. Use the Drag and Drop feature. Choose from: Increased, Decreased or No Impact Marked out of 13.00 Flag question Sales Revenue Drag answer here No impact Cost of goods sold Drag answer here Decreased Gross profit Drag answer here Increased Operating expense Drag answer here Operating income Drag answer here Pre-tax income Drag answer here Net income Drag answer here Cornin ar mhar ANALAR HAFA Question 11 Not yet answered Assume a company recorded an adjusting entry that was required to adjust for the portion of prepaid expense that had been incurred during fiscal year 2021. Specify how recording this transaction impacted each of the items below in the financial statements for fiscal year 2021. Ignore the impact of income tax expense. Use the Drag and Drop feature. Choose from: Increased, Decreased or No Impact Marked out of 13.00 Flag question Net income Drag answer here No impact Decreased Earnings per share Drag answer here Increased Current assets Drag answer here Total assets Drag answer here Current liabilities Drag answer here Total liabilities Drag answer here Stockholders' Equity Drag answer here