On January 1,2025, Sunland Corporation changed to the percentage-of-completion method of income recognition. This change is justified by Sunland Corporation. On December 31,2024 , Sunland's Retained Earnings balance war $1580000. Suniand 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 $280000. If Suniand's income tax rate is 25%, one of the impacts of this accounting change would be an increase to Construction in Progress of $1580000 on December 31,2024. a decrease to the Retalned Earnings balance on December 31.2024, of $280000. an increase to the Retained Earnings balance on December 31,2024, of $280000. an increase to Construction in Progress of $280000 on December 31,2024