Concord Inc. reported total assets of $6399000 and net income of $503000 for the current year. Concord determined that inventory was understated by $137000 at the beginning of the year and $60900 at the end of the year. Ignoring income taxes, what is the corrected amount for total assets and net income for the year? $6459900 and $426900. $6459900 and $563900. $6338100 and $579100. $6399000 and $503000.

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The correct answer is A.) begin funding a large peacetime military to counter foreign aggression.

Explanation:

After World War II, the US and Soviet Union emerged as global superpowers. Due to their differences in ideology and beliefs, there was significant tensions between these countries. The fear that the Soviet Union would spread their communist system to other countries worried the American federal government. The government worried of possible hostile invasions by the Soviet Union. This is why, despite World War II being over, the US continued to have a significant military presence.