Ramamurthy Corporation plans to prepare its annual financial statements for its shareholders for fiscal year ending June 30, 2012. Record whether each transaction for Ramamurthy Corporation overstated (O) or understated (U) net income, total assets, total liabilities, or stockholders' equity. You may assume closing entries have been made. If a category is correct, then write (C).

Ramamurthy Corporation pays salaries to its employees on the 15th of every month. Ramamurthy did not record salaries for the last 15 days of June 2012.

Total Assets: O, U ,C ?

Total Liabilities: O, U ,C ?

Net Income: O, U ,C ?

Stockholders' Equity: O, U ,C ?