Question: DPL discovers some inventory that was omitted from the calculations of the year-end figures for the financial statements. What is the effect of correcting this omitted amount in the financial statements? Solution A. Profit for the year will decrease and current assets will decrease. B. Profit for the year will increase and current assets will decrease. C. Profit for the year will decrease and current assets will increase. D. Profit for the year will increase and current assets will increase.