Schnee's inventory is recorded on its balance sheet at $400,000. When Schnee's performed a lower of cost or net realizable value (a.k.a. lower of cost or market) analysis on its balance sheet date, it determined that the market value of the inventory was $500,000. Thus, Schnee's will: Question 13 options: Record a journal entry that increases assets and increases net income. Record a journal entry that decreases assets and decreases net income. Record a journal entry that decreases assets and increases net income. Do nothing. Schnee's inventory is not impaired