The CFO of the Campbell Microscope Corporation intentionally misclassified a downstream transportation expense in the amount of $$600,600$ as a product cost in an accounting period when the company made $9,100$ microscopes and sold $6,200$ microscopes. Campbell rewards its officers with bonuses that are based on net earnings.

Required

Indicate whether the elements on the financial statements $($i$.$e$.,$ assets, liabilities, equity, revenue, expense, and net income$)$ would be overstated or understated as a result of the misclassification of the downstream transportation expense. Determine the amount of the overstatement or understatement for each element.

Note: If there is no effect, select "Not affected" from the dropdown provided. Enter all answers as positive values.

Answer is complete but not entirely correct.

Assets Overstatedselected answer correct $$191,140$selected answer incorrect

Liabilities Not affectedselected answer correct not attempted

Retained earnings Overstatedselected answer correct $$600,600$selected answer incorrect

Revenue Not affectedselected answer correct not attempted

Expense Understatedselected answer correct $$600,600$selected answer incorrect

Net income Overstatedselected answer correct $$600,600$selected answer incorrect