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During 2020, Whispering Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2019 and 2018 (Whisperings first year of operations) under FIFO was

During 2020, Whispering Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2019 and 2018 (Whisperings first year of operations) under FIFO was $165,720 and $195,350, respectively. Pretax income using weighted-average pricing in the prior years would have been $165,500 in 2019 and $188,100 in 2018. In 2020, Whispering reported pretax income (using weighted-average pricing) of $205,100. Show comparative income statements for Whispering, 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

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

Income tax

enter a dollar amount

enter a dollar amount

enter a dollar amount

Net Income

$enter a total of the two previous amounts

$enter a total of the two previous amounts

$enter a total of the two previous amounts

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