Exercise 4-14 Bonita Company began operations in 2015 and for sim plicity reasons, adopted weighted-average pricing for inventory. In 2017, in accordance with other companies in its industry, Bonita changed its inventory pricing to FIrO. The pretax inicome data is reported be Year Weighted- Average FIFO $402,400 422,000 463,500 2015 387,100 392,500 30,800 2016 2017 What is Bonita's net income in 2017? Assume a 35% tax rate in all years. Net Incomes Compute the cumulative effect of the change in accounting prinoile from weighted average to FOetory pricing Net effect Show comparative income statements for Bonita Company, beginning with income before income tax, as presented on the 2017 income statement. 2017 2016 2015 Income before income taxs Income tax Net income