Current Attempt in Progress Sheridan Construction Company, which began operations in 2020 , changed from the completed-contract to the percentage-ofcompletion method of accounting for long-term construction contracts during 2021. For taxpurposes, the company employs the completed contract method and will continue this approach in the future. The appropriate information related to this charige is as follows. (a) Assuming that the tax rate is 20k, what is the amount of net income that would be cepor fed in 2021 ? (b) What entry is necessary to adjust the accounting records for the change in accounting principle? (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts.)