2. (4 pts) What would be the effect on the financial statements, of recording the purchase of a forklift for $20,000? A down payment of $4,000 was made and a six-month note at 10% interest was signed for life of four years and a $4,000 salvage value. Straight-line depreciation will be used. The truck was purchased January 1st and the company's year-end is December 31st For each type of account, indicate the dollar ($) amount of the increase or decrease that would result, or indicate that there would be no effect. Assets Liabilities Equity Revenue Expense Net Income Increase Decrease No Effect 3. (4 pts) What would be the effect on the financial statements, of recording the payment of the note in problem number 2? For each type of account, indicate the dollar ($) amount of the increase or decrease that would result, or indicate that there would be no effect. Assets Liabilities Equity Revenue Expense Net Income Increase Decrease No Effect 4. (4 pts) What would be the effect on the year-end financial statements, of failing to record depreciation on the truck purchased in problem number 2? For each type of account, indicate the dollar (S) amount of the misstatement that would result, or indicate that there would be no effect. Assets Liabilities Equity Revenue Expense Net Income Overstated Understated No Effect