Question 12 10 pts You are reviewing O'Brian Company's adjusted trial balance for the year ended 12/31/2024. You notice several omissions and incorrect items during your review, some of which are noted below. For each one, you are to determine what effect, if any, these items would have on the stated components of O'Brian Company's 2024 Income Statement and 12/31/2024 Balance Sheet if they are not corrected or updated. Assume no income taxes. Use the following code for your answers. Don't include dollar amounts. N = No Effect O = Overstated U = Understated Additional Information 12/31/2024 12/31/2024 12/31/2024 2024 Net Assets Liabilities Owner's Equity Income Uncollectible accounts of $7,000, as a percentage of sales, are estimated at the end of the year. The entry has not been recorded.