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Brief Exercise 4-6 During 2014, Williamson Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2013 and 2012 (Williamson?s first year of operations)

Brief Exercise 4-6

During 2014, Williamson Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2013 and 2012 (Williamson?s first year of operations) under FIFO was $163,400and $199,200, respectively. Pretax income using weighted-average pricing in the prior years would have been $149,800in 2013 and $173,700in 2012. In 2014, Williamson Company reported pretax income (using weighted-average pricing) of $219,900. Show comparative income statements for Williamson Company, beginning with ?Income before income tax,? as presented on the 2014 income statement. (The tax rate in all years is28%.)

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