On January 1,2025 , Crane Corporation changed to the percentage-of-completion method of income recognition. This change is justified by Crane Corporation. On December 31, 2024, Crane's Retained Earnings balance was $1630000. Crane 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 $330000. If Crane's income tax rate is 25%, one of the impacts of this accounting change would be an increase to the Retained Earnings balance on December 31, 2024, of $330000. a decrease to the Retained Earnings balance on December 31, 2024, of $330000. an increase to Construction in Progress of $330000 on December 31, 2024. an increase to Construction in Progress of $1630000 on December 31, 2024