Requirement 2. Suppose the adjustments were not made. Calculate the overall overstatement or understatement of net income resulting from the omission of these adjustments. Enter the amounts of either the overstatement or understatement of net income as a result of omitting these adjustments. (Use parentheses or a minus sign when entering understatement.)

Net income over (under) statement as a result of omission

Insurance Expense ... 2100

Interest Revenue ... 2500

Service Revenue ... 1400

Depreciation Expense ... 5600

Salary Expense ... 7600

Income Tax Expense ... 7350

Total over (under) statement of net income ...? 18750