Armstrong Inc. is a calendar-year corporation. Its financial statements for the years ended 12/31/17 and 12/31/18 contained the following errors: Ending inventory Depreciation expense 2017 $50,000 overstatement $20,000 overstatement 2018 $80,000 understatement $40,000 overstatement Assume that the 2017 errors were not corrected and that no errors occurred in 2016. By what amount will 2017 income before income taxes be overstated or understated? Select one: O a. $70,000 understatement O b. $30,000 understatement O c. $30,000 overstatement O d. $70,000 overstatement