2. In 2020, Bevins Company decided to change from LIFO to FIFO due to better representation of the flow of inventory and costs. Bevins started the business in 2018. Bevin's tax rate is 35%. The following analysis was provided by management: (15 points) Ending Inventory 12/31/2018 12/31/2019 12/31/2020 Required: LIFO FIFO Net Income $375,650 $405,900 975,000 $360,450 $410,750 1,350,000 $365,975 $445,775 1,389,500 1) Prepare the journal entry necessary to record the change. 2) What amount of net income would Bevins report in 2018, 2019, and 2020?