Use this information to answer the following questions: (20 points) You are reviewing O'Brian Co's adjusted trial balance for the year ended 12/31/2021. You notice several omissions, incorrect items and additional information during your review, some of which are noted below. For each one, you are to determine what effect, if any, these items would have on the stated components of O'Brian Co.'s 2021 Income Statement and 12/31/2021 Balance Sheet if they are not corrected or updated. Assume no income taxes. An answer (N, Oor U) must be provided in each individual square. Do not include dollar amounts. Use the following code for your answers. N=No Effect o Overstated U-Understated Copy the table below to answer in the given table format: 12/31/2021 12/31/2021 12/31/2011 Transaction information 12/31/2021 12/31/2021 12/31/2021 Assets Llabilities Equiry Net Income Resense Expenses l'ecollectible accosts of 57,000, a percentage of sales, are estimated to end of the year Noty has not been recorded XYZ Coitially records the patch of all stance premises as expenses. The trial balance shows a balance of 5420 is susce spese en oftce policies reveals that 5125 of ice is respond 510,000 of the scene INSIGNIA to be manufactured and shipped in 2022. The $6500 was credited to deferred revenue. No further eatre: bane been recorded In December 2021 XYZ declared cash dividends on common stock of $50.000 that will be paid in January 2012. No entry has been recorded $20,000 depreciation on some equipment was still unrecorded. $10.000 of the rest paid and recorded as expense this sear pertains to 2022. No further estries have been recorded. On December 31, 2021.XYZ received a utility bill for December electricity usage of $190 that will be paid in early January of 2022. No ent has been recorded Supplies purchased during 2021 for $1,000 cash were recorded by a debit to Supplies expense and a credit to Cash Orily $200 of supplies remain at the ead of the sear, but no further entries have been recorded Copy the table below to answer in the given table format: 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 Transaction information 12/31/2021 Assets Liabilities Equity Net Income Revenue Expenses Upcoffectible accounts of S7.000 as a percentage of sales, are estimated at the end of the year. No entry has not been recorded XYZ Co initially records the payment of all insurance premiums 2: expenses. I he trial balance shows a balance of $420 is Insurance expense. A review of insurance policies reveals that 5125 of insurance is expired $10,000 of the recented and recorded rest revenue pertains 10 the year 2022. No further entries have been recorded $2.000 interest on a sote receitable was not yet received or recorded During 2021, the company received a $6500 cash advance from a customer for merchandise to be manufactured and shipped in 2022. The $6500 was credited to deferred revenue. No further estries have been recorded In December 2021. XYZ declared cash dividetids on