3 Homework Saved Help Save & Exit 0 You skipped this question in the previous attempt. Check Consider the following transactions for Huskies Insurance Company: 1. Equipment costing $36,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $6,000 per year. 2. On June 30, the company lends its chief financial officer $40,000 principal and interest at 6% are due in one year. 3. On October 1, the company receives $12,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited. Required: Indicate by how much net income in the income statement is higher or lower if the adjustment is not recorded. (Do not round intermediate calculations.) Net Income Transaction 1 2 3. Total