Two similar Questions: I know the answer, but need EXPLAINATIONS! Thanks!

first answer is B and second answer is C.

1. Risers Inc. reported total assets of $2,400,000 and net income of $320,000 for the current year. Risers determined that inventory was overstated by $24,000 at the beginning of the year (this was not corrected). What is the corrected amount for total assets and net income for the year?

a. $2,400,000 and $320,000.

b. $2,400,000 and $344,000.

c. $2,376,000 and $296,000.

d. $2,424,000 and $344,000.

2. Risers Inc. reported total assets of $6,400,000 and net income of $510,000 for the current year. Risers determined that inventory was understated by $138,000 at the beginning of the year and $60,000 at the end of the year. What is the corrected amount for total assets and net income for the year?

a. $6,460,000 and $570,000.

b. $6,340,000 and $588,000.

c. $6,460,000 and $432,000.

d. $6,400,000 and $510,000.