Elizabeth Company Discovered the Following Errors in 2010: Ending Inventory $\$ 2,000$

Multiple Choice

Elizabeth Company discovered the following errors in 2010: Ending inventory at December 31,2009 , was understated by $\$ 2,000$ .
Accrued expenses of $\$ 3,000$ were not recorded at December 31,2009 Elizabeth reported net income of $35, 000 for the year 2009.The corrected net income (ignoring income taxes) for 2009 should be

A) $40, 000
B) $30, 000
C) $36, 000
D) $34, 000