If a company fails to record accrued interest revenue at the end of its fiscal year, all else being equal, what are the effects on its net income, total assets, total liabilities, and total stockholders' equity?
Net income:
A. overstated
B. understated
C. no effect
Total assets:
A. overstated
B. understated
C. no effect
Total liabilities:
A. overstated
B. understated
C. no effect
Total stockholders' equity:
A. overstated
B. understated
C. no effect
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