Deuce Company counts its inventory of tires prior to preparing monthly financial statements on June 30. It uses the periodic inventory system. The warehouse actually contained 6884 tires, but the count team reported back to the accountant that there were 6284 tires and this number was used to adjust the accounting records. As a result of this, net income reported for the month ended June 30 would be:

Overstated and then understated the next periodCorrectly statedunderstatedoverstatedThere is not enough information provided to make an assessment