On January 1, 2025, Wildhorse Corporation changed to the percentage-of-completion method of income recognition. This change is justified by Wildhorse Corporation. On December 31, 2024, Wildhorse's Retained Earnings balance was \$1610000. Wildhorse calculated that, if the percentage-of-completion method had been used, the accumulated impact on net income (before taking into consideration any income tax effects) would have been an additional $310000 of revenue in 2024 . If Wildhorse's income tax rate is 25%, one of the impacts of this accounting change would be an increase to Income Tax Expense of $77500 in 2025. an increase to Income Tax Payable of $77500. a decrease to Income Tax Payable of $77500. an increase to Construction in Progress of $232500 on December 31, 2024