Question: Atomic Company did not record a December 2 0 2 2 purchase of inventory on credit until January 2 0 2 3 . Assume that

Atomic Company did not record a December 2022 purchase of inventory on credit until January 2023. Assume that the inventory was correctly determined.
What is the effect of this error on the financial statements for the year ended December 31,2023?
Multiple Choice
Net income is correct.
Net income is overstated.
Stockholders' equity is correct.
Stockholders' equity is overstated.
Atomic Company did not record a December 2 0 2 2

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