When a manufacturing company finishes production and transfers items from work-in-process to finished goods inventory, what is the effect on the financial statements?

A- Increase in total assets, decrease in net income, and no effect on total equity.

B- No effect on total assets, net income or total equity.

C- Increase in total assets and no effect on net income or total equity.

D-Increase in total assets, increase in net income, and increase in total equity.