The accountant for the Issenock Company did not record a purchase of merchandise on credit for the current year, but the merchandise was correctly included in the ending inventory. Assuming a periodic inventory system, how would assets, liabilities, and retained earnings be affected on the year-end balance sheet? 
Definitions:
Divisionalized Form
An organizational structure where operations are segmented into semi-autonomous divisions, each focused on a particular product line or geographic area.
Departmentalization
The process of dividing an organization into different departments or units, each specializing in certain tasks or functions.
Team-Based Structures
Team-based structures are organizational arrangements where work is coordinated and carried out primarily through teams rather than traditional hierarchical lines.
Divisionalized Structures
An organizational structure where operations are segregated based on products, services, markets, or geographical locations.
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