Required Information (The following Information applies to the questions displayed below] Glennelle's Boutique Inc. operates in a city in which real estate tax bills for one year are issued in May of the subsequent year. Thus, tax bills for 2019 are issued in May 2020 and are payable in July 2020. d. Determine the Income statement and balance sheet effects of not accrulng 2019 taxes at December 31, 2019 (assuming that taxes in bare not accrued). Current liabilities at December 31, 2019 will be by overstated understated Expenses for December 31, 2018 will be by overstated understated