Question 4 (1 point) The Federal Reserve continues to raise interest rates to its lending banks. Those banks in turn, increase their lending (loan) rates to customers. How do increased interest rates affect the accounting equation? 1) Both assets and liabilities increase. 2) Net Income declines and Accrued Interest Payable increases. 3) Both sales and expenses decrease. 4) There is little effect on net income because interest expense is a tax deduction. Question 5 (7 points) Elon Musk recently purchased Twitter. How do you think his management of the company has or will change the financial results for Twitter? For each of the questions below, type AGREE or DISAGREE. The opinion questions do not affect your grade