In the blank to the left of each question, fill in the letter from the followi presentation of the item on the financial statements of Helton Corporation for 2018 ing list which best describes the a. b. C. d. Change in estimate rior period adjustment (not due to change in principle) Retrospective type accounting change with note disclosure None of the above ,the company changed its method of recognizing income from the completed-contract to the percentage-of-completion method. method 2. At the end of 2018, an audit revealed that the corporation's allowance for doubtful accounts was too large and should be reduced to 2%, when the audit was made in 2017, the allowance seemed appropriate. 3. The company switched from a LIFO to a FIFO inventory valuation method during the current year 4. After negotiations with the IRS, income taxes for 2016 were established at $42,900. They were originally estimated to be $28,600. 5 In 2018, the company incurred interest expense of $29,000 on a 20-year bond issue. 6. In computing the depreciation in 2016 for equipment, an error was made which overstate income in that year $75,000. The error was discovered in 2018. In 2018, the company changed its method of depreciating plant assets from the double- declining balance method to the straight-line method. 7