Below is the net income of Nash Instrument AG, a private company, computed under the two inventory methods using a periodic system. FIFO Average Cost 2019 26,000 23,000 2020 32,000 25,500 2021 31,000 29,000 2022 36,000 30,500 (Ignore tax considerations.) (a) Assume that in 2022 Nash decided to change from the FIFO method to the average-cost method of pricing inventories. Prepare the journal entry necessary for the change that took place during 2022, and show net income reported for 2019, 2020, 2021, and 2022. (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 O for the amounts.) Account Titles and Explanation Debit Credit Net income 2022 2021 2020 2019 (b) Assume that in 2022 Nash, which had been using the average-cost method since beginning operations in 2019, changed to the FIFO method of pricing inventories. Prepare the journal entry necessary to record the change in 2022 and show net income reported for 2019, 2020, 2021, and 2022. (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 O for the amounts.) Account Titles and Explanation Debit Credit