30 P 300 Net Income 20X1 Net Income 20X2 Net Income 20x3 FIFO (OM) 90,000 Tagge 250,000 Weighted Average (New) 70,000 105,000 85,000 200,000 The Chippewa Company decided to change from FIFO to Weighted Average late in Year 2003 Year 2001 was the first year of operations. The Statement of Retained Earnings for year-end 12/31/X3 shows two columns, 2002 and 2003 Retained Eamings, Jan 1, previously reported 20x2 2003 Adjustment for cumulative effect on prior years of applying change retrospectively Retained Earnings, Jan 1, as adjusted Net Income Retained Eamings, Dec. 31 What amount will be shown in the 2003 column on the "Retained Earnings, Jan. 1, as adjusted" line? Select one O a $355,000 Ob $445.000 O $195,000 Od $155,000 Oe $175.000