(b) Determine net income to be reported for 2018, 2019, and 2020, after giving effect to the change in accounting principle. Net Income 2018 $ 2019 $ 2020 TA $ (c) Assume Pronghorn Company used the LIFO method instead of the average cost method during the years 2018-2020. In 2021, Pronghorn changed to the FIFO method. Prepare the journal entry necessary to record the change in principle. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Pronghorn Company began operations on January 1, 2018, and uses the average-cost method of pricing inventory. Management is contemplating a change in inventory methods for 2021. The following information is available for the years 2018-2020. Net Income Computed Using Average-Cost Method FIFO Method LIFO Method 2018 $15,930 $19,030 $12,110 2019 18,000 21,210 13,890 2020 20,030 24,760 16,840 (a) Prepare the journal entry necessary to record a change from the average cost method to the FIFO method in 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit