Selected account balances before adjustment for Newhouse Realty at March 31, 2014, the end of the current year, are shown below.

	Debits		Credits
Accounts Receivable	$71,730
Equipment	111,000
Accumulated Depreciation - Equipment			$11,050
Prepaid Rent	9,000
Supplies	2,150
Wages Payable			_
Unearned Fees			9,900
Fees Earned			418,900
Wages Expense	141,310
Rent Expense	_
Depreciation Expense	_
Supplies Expense	_

Data needed for year-end adjustments are as follows:

Supplies on hand at March 31, $650.

Depreciation of equipment during year, $1,080.

Rent expired during year, $6,600.

Wages accrued but not paid at March 31, $2,080.

Unearned fees at March 31, $4,160.

Unbilled fees at March 31, $4,950.

What would be the effect on the income statement if adjustments (b) and (e) were omitted at the end of the year? Enter all amounts as positive numbers.

Fees earned	(understated or overstated)	by $
Depreciation expense	(understated or overstated)	by $
Net income	(understated or overstated)	by $

What would be the effect on the balance sheet if adjustments (b) and (e) were omitted at the end of the year? Enter all amounts as positive numbers.

Accumulated depreciation	(understated or overstated)	by $
Total assets	(understated or overstated)	by $
Unearned fees	(understated or overstated)	by $
Total liabilities	(understated or overstated)	by $
Retained earnings	(understated or overstated)	by $
Total liabilities and Stockholders' equity	(understated or overstated)	by $