At year end, no adjusting entry was made to the supplies inventory account. The general ledger balance for supplies inventory was $5000. The actual balance in inventory was $3000. The omission of this adjusting entry caused ________.

A) assets to be overstated and liabilities to be overstated

B) assets to be overstated and net income to be overstated

C) assets to be understated and liabilities to be understated

D) assets to be understated and net income to be understated