In 2020, Frost Company, which began operations in 2018, decided to change from LIFO to FIFO because management believed that FIFO better represented the flow of their inventory Management prepared the following analysis showing the effect of this change: Frost reported net income of $2,500,000,$2,400,000, and $2,100,000 in 2018,2019 , and 2020, respectively The tax rate is 21\%. Required: 1. Prepare the joumar entry necessacy to record the change. 2. What amourt of net income would Frost report in 2018, 2019, and zoro? 3. U Frost's employees recewed a bonus of tos of income belore deducting the bonus and income taxes in 2018 and 2019 , what would be the efect on ner income for 2018,2019 , and 2020