x 1. Which formula is correct? Select one: a. Net assets = equity b. liabilities = assets + equity c. non of the above d. equity = assets + liabilities 2. In 2019, MBC Co determined that it overstated salaries payable and salaries expense by $20,000 in 2019. In 2020, which of the following accounts will have to be credited to correct this error? Select one: a. Salaries and Wages Payable b. income summary c. Salaries and Wages expense o retained earnings