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During 2020, swifty Company chat d from FIFO to weighted average inventory pricing, Pretax income in 2019 and 2018 (Swifty's first year of operations) under
During 2020, swifty Company chat d from FIFO to weighted average inventory pricing, Pretax income in 2019 and 2018 (Swifty's first year of operations) under FIFC as $170,620 and $188,910, respectively. Pretax income using weighted-average pricing in the prior years would have been $152,800 in 2019 and $182,300 in 2018. In 2020, Swifty reported pretax income (using weighted- average pricing) of $213,600. Show comparative Income statements for Swifty, beginning with "Income before income tax" as presented on the 2020 income statement. (The tax rate in all years is 30%) 2020 2019 2018 Income before income tax $ $ Income tax Net Income $ $
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