Avenue Corporation issues three-year comparative financial statements. In the latest set of financial statements, Avenue discovered an error in the previously issued financial statements for the earliest of the three years oresented. The error has an impact on each of the two years previously issued. How should Avenue report the rror? a. Avenue should disclose the error and disclose in the notes to the financial statements the impact of this error on each year presented. The current year's financial statements should reflect an adjustment to opening retained earnings and the carrying amounts of assets and liabilities as of the beginning of the year and should refer to the note explaining the change. b. Avenue should restate the financial statements for first two years presented and the cumulative effect of the error from those two years should be reflected in the carrying amounts of assets and liabilities and the beginning retained earnings balance as of the beginning of current year being reported upon. Additionally, Avenue should disclose, in the notes to the financial statements, the nature of the error and the adjustments recorded for each year presented. c. Avenue should restate the financial statements for the two previous years and record an offsetting adjustment to the cumulative effect of the error to comprehensive income in the current year's financial statements. d. Avenue should present restated financial information for the first two years in the notes to the financial statements, accompanied by a description of the error that was corrected. Additionally, Avenue should be reporting a material weakness in their disclosure on internal controls over financial reporting in the notes to the financial statements