Suppose that Lora Company's adjusted trial balance ignored the following information. For each item of information, indicate what effects, if any, these omissions would have on the stated components of Lora Company's 2018 Income Statement and 12/31/18 Balance Sheet. Assume no income taxes. Use the following code for your answers and be sure to include the dollar amounts of the effects next to the letter O or U: First one is a sample response solved for you]

N = No Effect

O = Overstated

U= Understated

$5,000 of unearned revenue has been earned but remains unrecorded.

Assets 12/31/18	Liab 12/31/2018	Owners Equity 12/31/18	Net Income 2108