During 2021, a construction company that began operations in 2019 changed from the completed-contract method to the percentage-of-completion method for accounting purposes but not for tax purposes. Gross profit figures under both methods for the past thre years appear below: 2019 2020 Completed-Contract $ 457000 605000 680000 $1742000 Percentage-of-Completion $ 878000 930000 1030000 $2838000 2021 Assuming an income tax rate of 30% for all years and that comparative statements are not issued, the effect of this accounting change on prior periods should be reported by a increase of $522200 on the 2021 retained earnings statement. $522200 on the 2021 income statement. $771000 on the 2021 retained earnings statement. $771000 on the 2021 income statement