I only need comparative retained earnings statement to be done

Oriole Co. decides at the beginning of 2020 to adopt the FIFO method of inventory valuation. Oriole had used the LIFO method for financial reporting since its inception on January 1, 2018, and had maintained records adequate to apply the FIFO method retrospectively. Oriole concluded that FIFO is the preferable inventory method because it reflects the current cost of inventory on the balance sheet. The following table presents the effects of the change in accounting principles on inventory and cost of goods sold. Income taxes are ignored. Inventory Determined by LIFO Method FIFO Method Cost of Goods Sold Determined by LIFO Method FIFO Method Date January 1, 2018 $0 $0 $0 $0 December 31, 2018 110 9 750 851 December 31, 2019 200 260 940 779 December 31, 2020 320 400 1,150 1,130 Retained earnings reported under LIFO are as follows. Retained Earnings Balance December 31, 2018 $1,090 December 31, 2019 1,990 December 31, 2020 2,680 Other information: 1. For each year presented, sales are $2,770 and operating expenses are $930. 2. Oriole provides two years of financial statements. Earnings per share information is not required. (a) Your answer is correct. Prepare income statements under LIFO for 2018, 2019, and 2020. ORIOLE CO. Income Statement For the Year Ended December 31 LIFO 2018 2019 2020 Sales CA $ 2770 $ 2770 CA $ 2770 Cost of Goods Sold 750 i 940 i 1150 i Operating Expenses 930 i 930 i 930 i PE Net Income /(Loss) LA 1090 $ 900 CA $ 690 Prepare income statements under FIFO for 2018, 2019 and 2020. ORIOLE CO. Income Statement For the Year Ended December 31 FIFO 2018 2019 2020 Sales $ CA 2770 $ 2770 $ $ 2770 Cost of Goods Sold 851 i 779 i 1130 i Operating Expenses 930 i 930 PE 930 PE Net Income /(Loss) $ CA 989 $ 1061 $ 710 Prepare comparative retained earnings statements for 2019 and 2020 under FIFO. 2019 2020 gs, January 1, as reported 1090 tA $ o 0 djustment for Cumulative Effect of Applying New Acounting Method gs, January 1, as reported $ ISS) 1061 710 gs, December 31 $ $