During the taking of its inventory on December 31, 2020 Barry's Bike Shop Incorrectly counted its ending Inventory as $270,000 instead of the correct amount al $190,000. The effect on the balance sheet and income statement would be as follows: a) Ending Inventory is overstated by 500,000. COGS is understated by $80,000, Net Income is overstated b) Ending Inventory is overstated by $80,000, no cffect on the income statement c) Ending Inventory is understated by SB0.000, COGS is understated by S80.000. Net Income is overstaled. d) Ending Inventory is overstated by SB0,000, COGS is overslated by $80.000, Net Income is overstated