On 1 January 20X1, Tyler Trading Corp. was incorporated by Jim Tyler, who owned all the common shares. His original investment was $120,000. Inventory transactions over the subsequent three years were as follows: 22 January zexi Throughout ex1 31 December 2exi 15 July 2x2 Throughout 28x2 31 December 2x2 Throughout zex3 Purchased 25 units for resale at $5,480 each. Sold 17 units for an average of $8,400 each. Remaining eight units have a selling market value of $6,400 each. Bought eight units for resale at $7,400 each. Sold ten units at an average of $12,800 each. Remaining six units have a selling market value of $10,4ee each Sold all six remaining units at $9,4ee each. Required: 1. Calculate accounting income, based on transactions, for 20X1, 20X2, and 20X3. Assume FIFO. Accounting Income 20X1 20X2 20x3 Total 2. Calculate economic income, based on events or changes in value for 20X1. 20X2 and 20X3. (Enter negative values with minus sign.) Economic Income 20X1 20X2 20x3 Total 3. Not available in connect 4. Not available in connect