Exercise 4-14 Tim Mattke Company began operations in 2015 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2017, in accordance with other companies in its industry, Tim Mattke changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted-Average 2015 2016 2017 $370,000 390,000 410,000 FIFO $395,000 430,000 450,000 what is Tim Mattke's net income in 2017? Assume a 35% tax rate in all years. Net Income Compute the cumulative effect of the change in accounting principle from weighted-average to FIFO inventory pricing Net effects Show 1149 PM