Question 4 (1 point) Sonic Youth Corporation purchased a one-year insurance policy in January 2013 for $82,500. The insurance policy is in effect from March 2013 through February 2014. If the company neglects to make the proper year-end adjustment for the expired insurance ONet income and assets will be understated by $68,750. Net income and assets will be overstated by $68,750. Net income and assets will be understated by $13,750. Net income and assets will be overstated by $13,750