The accountant for Zero Corp. failed to make the adjusting entry to record depreciation for the current year. The effect of this error is which of the following?

A$.$ Assets and expenses are understated; net income is understated.

B$.$ Net income is overstated and liabilities are understated.

C$.$ Assets, net income, and stockholders' equity are all overstated.

D$.$ Assets are overstated; stockholders' equity and net income are understated.