Wertz Corporation issued ten$-$year, $8\%$ bonds on January $1,2025$ at a discount. During $2025,$ the company's accountant

failed to amortize any of the bond discount. The omission of the discount amortization will

Select one:

a$.$ not affect net income reported for $2025.$

b$.$ cause the bond carrying value to be overstated.

c$.$ cause retained earnings at the end of $2025$ to be overstated.

d$.$ cause net income for $2025$ to be understated.