CALCULATOR PRINTER VERSION BACK Exercise 22-4 Bridgeport Company started operations on January 1, 2012, and has used the are provided with the following information method of inventory valuation since inception. In 2018, decides to switch to the average-cost method. You Retained Earnings (Ending Balance 2012 2013 Net Income Under FIFO Under Average-Cost $102,500 393,000 76.00 71,800 94.500 83.100 126,600 137,000 312.000 301 300 330.900 335,700 173.100 2014 2015 2016 366,700 643,900 2017 (a) What is the beginning retained earnings balance at January 1, 2014, if Bridgeport prepares comparative financial statements starting in 2014? Retained earnings, January 1 (b) What is the beginning retained earnings balance at January 1, 2017, if Bridgeport prepares com arative financial statements starting in 2017? Retained earnings, January 1 (c) What is the beginning retained earnings balance at January 1, 2018, if Bridgeport prepares single period financial statements for 2018? Retained earnings, January 1 (d) What is the net income reported by Bridgeport in the 2017 income statement if it prepares comparative financial statements starting with 2015? 2015 2016 2017 Net Income