Concord Company started operations on January 1, 2012, and has used the FIFO method of inventory valuation since its inception. In 2018, it decides to switch to the average-cost method. You are provided with the following information.

Net Income	Retained Earnings (Ending Balance)
Under FIFO	Under Average-Cost	Under FIFO
2012	$92,000	$82,800	$90,600
2013	68,300	62,900	158,500
2014	81,300	70,800	255,000
2015	116,500	126,800	308,600
2016	301,400	290,400	644,800
2017	311,300	316,800	731,300

(a)What is the beginning retained earnings balance at January 1, 2014, if Concord prepares comparative financial statements starting in 2014?

Retained earnings, January 1

$

(b)What is the beginning retained earnings balance at January 1, 2017, if Concord prepares comparative financial statements starting in 2017?

Retained earnings, January 1

$

(c)What is the beginning retained earnings balance at January 1, 2018, if Concord prepares single-period financial statements for 2018?

Retained earnings, January 1

$

(d)What is the net income reported by Concord in the 2017 income statement if it prepares comparative financial statements starting with 2015?

2015	2016	2017
Net Income	$	$	$