Flay Foods has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2024, Flay decided to change to the LIFO method. As a result of the change, net income in 2024 was $81 million. If the company had used LIFO in 2023, its cost of goods sold would have been higher by $5 million that year. Flays records of inventory purchases and sales are not available for 2022 and several previous years. Last year, Flay reported the following net income amounts in its comparative income statements: ($ in millions) 2021 2022 2023 Net income $ 81 $ 83 $ 85 Required: 1. Prepare the journal entry at the beginning of 2024 to record the change in accounting principle. (Ignore income taxes.) 3. What amounts will Flay report for net income in its 20222024 comparative income statements?