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During 2017, Novak Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2016 and 2015 (Novaks first year of operations) under FIFO was

During 2017, Novak Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2016 and 2015 (Novaks first year of operations) under FIFO was $167,270 and $196,730, respectively. Pretax income using weighted-average pricing in the prior years would have been $152,700 in 2016 and $177,900 in 2015. In 2017, Novak reported pretax income (using weighted-average pricing) of $205,600. Show comparative income statements for Novak, beginning with Income before income tax, as presented on the 2017 income statement. (The tax rate in all years is 28%.) For 2017 2016 2015 Income before income tax, Income tax, and Net Income ?

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