Question 13 4.86 p Morton Company purchased a truck on January 1, 2020 and intends to use the straight fine method of depreciation. The company's accountant subtracted too much salvage value when computing depreciation expense. The effect of this error on the 2020 financial statements would be to make 2. assets too high net income too high and equity too high Ob net income too low, assets too high and equity too nich Ocassets too high and equity too low Od assets too low. net income too low, and equity too low Obaidies too low and equity too high 09