Risers Inc

Multiple Choice

Risers Inc. reported total assets of $3,200,000 and net income of $255,000 for the current year. Risers determined that inventory was understated by $69,000 at the beginning of the year and $30,000 at the end of the year. What is the corrected amount for total assets and net income for the year?

A) $3,230,000 and $285,000.
B) $3,170,000 and $294,000.
C) $3,230,000 and $216,000.
D) $3,200,000 and $255,000.