A customer paid $73200 to Foley Marketing on December 30, 2015, to perform services from January 1, 2016 through December 31, 2019. If Foley fails torecord the revenue recognized, ________ would be understated by ________ each year.

a) net income, $14640

b) liabilities, $18300

c) assets, $14640

d) net income, $18300