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Question 11. 5 ptsJoe's BBQ Supply began operations in 2016 and adopted weighted- average pricing for itsinventory . At the beginning of 2017 , Joe's decided to switch to LIFO pricing for inventory .Because inventory prices have been rising in recent years , this resulted in a higher COGS for theyear ended 2017 of $ 13, 000 and a higher COGS for the year ended 2016 of $18. 000 . Incomedata from 2016 ( prepared using weighted - average pricing ) and 2017 ( prepared using LIFOpricing ) are reported below , and the books have not yet been closed for 2017 . Assume a tax rateof 30%6 . Based on this information , what would be the total dollar adjustment to retainedEarnings at the end of 2017 ?)20162017Sales50, 00075, 000COGS40, 00035, 000Depreciation5 , 0007, 500SG&A12, 00015, 000Pre - Tax Income3, 00017 , 500Tax Expense9005 , 250Net Income2 , 10012 , 250 Question 20. 5 ptsWould you debit or credit retained earnings for the adjustmentcalculated in question 1 ?"O Debit@ Credit