Below is the net income of Wildhorse Instrument Co., a private corporation, computed under the three inventory methods using a periodic system. FIFO Average Cost LIFO 2015 2016 2017 2018 $26,000 28,800 31,400 31,600 $23,200 24,200 29,500 27,400 $20,300 20,700 26,300 23,000 (Ignore tax considerations.) (a) Assume that in 2018 Wildhorse 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 2018, and show net income reported for 2015, 2016, 2017, and 2018. (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 0 for the amounts. Account Titles and Explanation Debit Credit 2018 2017 2016 2015 Net income (b) Assume that in 2018 Wildhorse, which had been using the LIFO method since incorporation in 2015, changed to the FIFO method of pricing inventories. Prepare the journal entry necessary to record the change in 2018 and show net income reported for 2015, 2016, 2017, and 2018. (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 0 for the amounts.) Account Titles and Explanation Debit Credit 2018 2017 2016 2015 Net income