help me

The Pyramid Company has used the LIFO method of accounting for inventory during its first two years of operation, 2019 and 2020. At the beginning of 2021. Pyramid decided to change to the average cost method for both tax and financial reporting purposes. The following table presents information concerning the change for 2019-2021. The income tax rate for all years is 25% 19 2020 2021 Income before Income Tax Usin Averago Usin LIFO Income Difference Cost Method Method Difference Tax Effect fter Tax 2019 $ 35,800 $57,200 $28,60 $7,150 $21,450 41,500 33,200 3,200 2,075 6,225 Total $127,300 $90,400 556.900 $9,225 327,675 545,300 $ 4,300 $1,075 $ 3,225 Pyramid issued 42,000 $1 par, common shares for $195,000 when the business began, and there have been no changes in paid in capital since then. Dividends were not paid the first year, but $12.000 cash dividends were paid in both 2020 and 2021 Required: 1. Prepare the journal entry at January 1, 2021. to record the change in accounting principle 2. Prepare the 2021-2020 comparative income statements beginning with income before Income taxes 3. Prepare the 2021 2020 comparative statements of shareholders equity. (Hint The 2019 statements reported retained eatings of $42.900 This $57200 (957200 - 25%) Complete this question by entering your answers in the tabs below Red Heged 2 Required Prepare the journalist at ry 1, 2021, to record the change in conting price for for transaction/event, selv om entry required in the first counted Required 1 Required 2 Required 3 Prepare the journal entry at January 1, 2021, to record the change in accounting principle. (If no entry is require transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3. Prepare the 2021-2020 comparative statements of shareholders' eqully. (Hint: The 2019 statements reported retained earnings of $42.900. This is $57,200 - ($57,200 * 25%)) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the 2021 2020 comparative statements of shareholders equity. (Hint: The 2019 statements reported retained earnings of $42,900. This is $57,200 - ($57,200 * 25%) 1 (Deductions should be indicated by a minus sion) PYRAMID COMPANY Statement of Shareholders' Equity For the Years Ended Dec 31, 2021 and 2020 Additional Total Common Retained Paid in Stock Shareholders Capital Earnings Equity Balance at Jan 1, 2020 Not wcomo Cash dividends Balance at Dec 31, 2020 $ 013 05 OS Not income Cash dividende Balance 31,2021 05