ABC adjusts its books each month and closes its books on December 31 each year. The trial balance at January 31, 2005, before adjustments, is as follows:
                                                                           Debit                          Credit
Cash                                                                18,000
 Unearned Admission Revenue                                                              2,000
 Capital Stock                                                                                        20,000
 Retained Earnings, January 1, 2005                                                     38,200
 Admissions Revenue                                                                            27,600
 Salaries Expense                                               8,100
 Utilities Expense                                               5,700
 Rent Expense                                                   5,400                          _________
                                                                        115,800
Refer to the above data.  Employees are owed $1,200 for services since the last payday in January to be paid the first week of February.  No adjustment was made for this item.  As a result of this error, 
A、assets at January 31 are overstated.
B、January net income is overstated.
C、liabilities at January 31 are overstated.
D、owners’ equity at January 31 is understated.