XYZ Company forgets to record annual depreciation on its capital assets atDecember 31, 2015. What is the impact on the December 31, 2015 financialstatements:Understatement of assets and understatement of net incomeOverstatement of assets and understatement of net incomeUnderstatement of liabilities and overstatement of net incomeOverstatement of assets and overstatement of net incomeQuestion 11 (1 point)