A Company Makes Two Errors in the Physical Count of Inventory

A company makes two errors in the physical count of inventory. Beginning inventory was understated by $28,000 and ending inventory is understated by $43,000. Which of the following will be the net effect of the two errors?

A) Net income for the following year is overstated by $71,000.
B) Net income for the following year is understated by $15,000.
C) Net income for the following year is overstated by $15,000.
D) Net income for the following year is overstated by $43,000.