Metlock Company began operations in 2018 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2020, in accordance with other companies in its industry, Metlock changed s inventory pricing to FIFO. The pretax income data is reported below. Weighted- Average Year FIFO 2018 $377,500 $415,200 2019 401.100 426,800 2020 417.200 475.800 What is Metlock's net income in 2020? Assume a 35% tax rate in all years. Net Income $ eTextbook and Media Compute the cumulative effect of the change in accounting principle from weighted-average to FIFO inventory pricing. Net fect eTextbook and Media Show comparative income statements for Metlock Company, beginning with income before income tax, as presented on the 2020 income statement. 2019 2020 2018 Income before income tax Income tax $ Net income eTextbook and Media