Selected account balances before adjustment for Atlantic Coast Realty at July 31. the end of the current year, are as follows: Debits Credits $ 73,600 346,500 $107.000 8,550 2 3,090 Accounts Receivable Equipment Accumulated Depreciation Equipment Prepaid Rent Supplies Wages Payable Unearned Fees Fees Eamed Wages Expense Rent Expense Depreciation Expense Supplies Expense 11,000 672,400 337,500 Data needed for year-end adjustments are as follows: Unbilledfees at July 31, $10,250. Supplies on hand at July 31, 5710 Rent expired, $5,700 - Depreciation of equipment during year. 50,500 - Unearned fees at July 31, $2,340 Wages accrued but not paid at July 31, 54,700 2. What would be the effect on the income statement of the adjustments for unbilled fees and accrued wages were omitted at the end of the year? Over/Understated Amount Fees eamed Wages expense Net income Understated $ 3. What would be the effect on the balance sheet of the adjustments for unbild fous and accrued wages were omitted at the end of the year? Over/Understated Amount Accounts receivable $ $ S >> S Wipes payabile Totallatilities Retained earnings Totalbies and stockholders equity S S 4 What would be the effect on the Mer increase or decrease in cash on the statement of cash flows it the adjustments for unbilled fees and accrued wages were omitted at the end of the year