34) Ending inventory for the year ended December 31, 2017, is understated by $8,000. How will this 34) affect net income for 2017 and 2018? A) Net income will be understated by $8,000 in 2017 and 2018. B) Net income will be understated by $8,000 in 2017 and overstated by $8,000 in 2018. C) Net income will be overstated by $8,000 in 2017 and 2018. D) Net income will be overstated by $8,000 in 2017 and understated by $8,000 in 2018