required unearned revenue * 10 points ustment had not been made, financial statements would ve been affected as follows: net income overstated, assets overstated, liabilities overstated, and owner's equity unaffected. net income understated, assets unaffected, liabilities overstated, and owner's equity understated. net income understated, assets overstated, liabilities unaffected, and owner's equity overstated. net income overstated, assets unaffected, liabilities understated, and owner's equity unaffected