During the taking of its inventory on September 30,2022 Big City Bikes incorrectly counted its ending inventory as $190,000 instead of the correct amount of $270,000. The effect on the balance sheet and income statement would be as follows: a) Ending Inventory is understated by $80,000, COGS is overstated by $80,000, Net Income is understated b) Ending Inventory is overstated by $80,000, COGS is overstated by $80,000, Net Income is overstated c) Ending Inventory is understated by $80,000, COGS is understated by $80,000, Net Income is overstated