7) Alex Inc. reported total assets of $3,200,000 and net income of $170,000 for fiscal year 2019. Alex determined that inventory balance was understated by $46,000 at the beginning of the year and understated by $20,000 at the end of the year. Assume no tax, what is the corrected amount for total assets and net income for 2019?

a. $3,220,000 and $190,000. b. $3,180,000 and $196,000. c. $3,220,000 and $144,000. d. $3,200,000 and $170,000.