Oriole Company started operations on January 1, 2012, and has used the FIFO method of inventory valuation since its inception. In 2018, it decides to switch to the average-cost method. You are provided with the following information.

		Net Income				Retained Earnings (Ending Balance)
		Under FIFO		Under Average-Cost		Under FIFO
2012		$92,000		$82,800		$90,600
2013		68,300		62,900		158,500
2014		81,300		70,800		255,000
2015		116,500		126,800		308,600
2016		301,400		290,400		644,800
2017		311,300		316,800		731,300

(a) What is the beginning retained earnings balance at January 1, 2014, if Oriole prepares comparative financial statements starting in 2014?

Retained earnings, January 1

$

(b) What is the beginning retained earnings balance at January 1, 2017, if Oriole prepares comparative financial statements starting in 2017?

Retained earnings, January 1

$

(c) What is the beginning retained earnings balance at January 1, 2018, if Oriole prepares single-period financial statements for 2018?

Retained earnings, January 1

$

(d) What is the net income reported by Oriole in the 2017 income statement if it prepares comparative financial statements starting with 2015?

		2015		2016		2017
Net Income		$		$		$