$.$ Salem Corporation purchased a one$-$year insurance policy in January $2020$ for $$51,000.$ The insurance policy is in effect from April $2020$ through March $2021.$ If the company neglects to make the proper year$-$end adjustment for the expired insuranceSelect one:a$.$net income and assets will be understated by $$38,250.$b$.$net income and assets will be overstated by $$8,500.$c$.$net income and assets will be understated by $$8,500.$d$.$net income and assets will be overstated by $$38,250.$