Required information Exercise 7-7 (Algo) Other accrued liabilities-payroll taxes LO 4 [The following information applies to the questions displayed below.) At March 31, 2019, the end of the first year of operations at Lukancic Inc., the firm's accountant neglected to accrue payroll taxes of $4,805 that were applicable to payrolls for the year then ended. Exercise 7-7 (Algo) Part a Horizontal Model Required: a-1. Use the horizontal model to show the effect of the accrual that should have been made as of March 31, 2019. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets Balance Sheet Liabilities Income Statement Stockholders' Equity Net Income Revenues