i Requirements a. Compute the cumulative effect after tax. b. Prepare the journal entry to record the change in method effective January 1, 2019. c. Prepare the accounting change footnote in the financial statements for the year of the change. Print Done X i Income Information a Year Percentage-of Completed- Completion Method Contract Method (Old Method) (New Method) 90,000 $ 90,000 2016 $ 0 a 2017 0 2018 0 90,000 90,000 2019 360,000 Print Done Requirement a. Compute the cumulative effect after tax. (For accounts with a $0 balance, make sure to enter "0" in the appropriate cell. Use a minus sign or parentheses for any decreases in income.) Percentage-of- Completed- Change in Net Change in Net Cumulative Change Completion Method Contract Method Income Income in Net Income Year (Old Method) (New Method) Pre-Tax Net of Tax Net of Tax 2016 $ 90,000 2017 90,000 2018 90,000 2019 90,000 360,000 i Requirements a. Compute the cumulative effect after tax. b. Prepare the journal entry to record the change in method effective January 1, 2019. c. Prepare the accounting change footnote in the financial statements for the year of the change. Print Done X i Income Information a Year Percentage-of Completed- Completion Method Contract Method (Old Method) (New Method) 90,000 $ 90,000 2016 $ 0 a 2017 0 2018 0 90,000 90,000 2019 360,000 Print Done Requirement a. Compute the cumulative effect after tax. (For accounts with a $0 balance, make sure to enter "0" in the appropriate cell. Use a minus sign or parentheses for any decreases in income.) Percentage-of- Completed- Change in Net Change in Net Cumulative Change Completion Method Contract Method Income Income in Net Income Year (Old Method) (New Method) Pre-Tax Net of Tax Net of Tax 2016 $ 90,000 2017 90,000 2018 90,000 2019 90,000 360,000