You had been given the following independent cases, you have to read each case and determine its impact on the net income for the company. 1 Statement Marked out of 7.00 Flag question 1. Salaries expenses were not recorded Impact on Net Income (overstated, understated, No effect, or cant be determined) Net Income will be: Overstated Part Que 5 1. The beginning inventory balance was overstated Net Income will be: Overstated 14 2. The Ending Inventory balance was understated Net Income will be: Understated Finish a 3. A purchase discount was not recorded Net Income will be: Understated 4. A purchase return and allowance was recorded twice Net Income will be: Overstated 5. The account forgot to adjust the supplies account Net Income will be: No effect 6. The account did not record an adjusting entry for the unearned revenue Net Income will be: No effect 7. All other revenues were neglected by the accountant Net Income will be: Understated Overstated Understated No effect Cant be determined