Accrued salaries payable of $51,000 were not recorded on December 31, 2014. This error got counter balance when cash salaries of 51000 were paid in 2015. Office supplies on hand of $29,000 at December 31, 2015 were erroneously treated as expense instead of supplies inventory. Neither of these errors was discovered nor corrected. The effect of these two errors would cause:

a. 2015 net income to be understated $80,000 and December 31, 2015 retained earnings to be understated $29,000.

b. 2014 net income and December 31, 2014 retained earnings to be understated $51,000 each.

c. 2014 net income to be overstated $22,000 and 2015 net income to be understated $29,000.

d. 2015 net income and December 31, 2015 retained earnings to be understated $29,000 each.