In 2020. Alexandria Company decided to change its method of inventory pricing from LIFO to FIFO. The company started operation in 2018. Net income calculated based on LIFO as compared to FIFO for the three years is: LIFO FIFO 2018 $78,000 $88,000 2019 81,000 92,000 2020 79,000 90,500 Instructions (a) Show the net income that would be shown on the comparative financial statements issued as of 12/31/20 for each of the three years. (b) Assume a tax rate of 30%, what is the adjusting entry the company would make in 2020 to account for this accounting change? (Please note that the company started operation in 2018, which means that there was no transaction and no account balances prior to 2018)