The following inventory valuation errors were discovered by Knox Corporation's new controller just after the annual financial statements were published at the end of Year 3. The Year 3 ending inventory was understated by $17,000. The Year 2 ending inventory was understated by $61,000. The Year 1 ending inventory was overstated by $23,000. The net income for Knox in each of these years was: Year 3 $168,000 Year 2 $254,000 Year 1 $138,000 Net income Assuming there were no income taxes, what was the adjusted net income in each year? A) B) C) D) Year 3 Year 2 Year 1 $212,000 $170,000 $161,000 $124,000 $338,000 $115,000 $90,000 $338,000 $161,000 $124,000 $170,000 $115,000 Multiple Choice Option A Option B Option C Option D