please show journal and complete the comparitve income statement.

Retu The Cecil-Booker Vending Company changed its method of valuing inventory from the average cost method to the FIFO cost method at the beginning of 2018. At December 31, 2017, inventories were $114,000 (average cost basis) and were $118,000 a year earlier. Cecil Booker's accountants determined that the inventories would have totaled $143,000 at December 31, 2017, and $148,000 at December 31, 2016, if determined on a FIFO basis. A tax rate of 40% is in effect for all years. One hundred thousand common shares were outstanding each year. Income from continuing operations was $340,000 in 2017 and $465,000 in 2018. There were no discontinued operations either year. Required: 1. Prepare the journal entry to record the change in accounting principle 2. Prepare the 2018-2017 comparative income statements beginning with income from continuing operations. Include per share amounts Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record the change in accounting principle. (If no entry is required for a transaction/event, select & Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the 2018-2017 comparative income statements beginning with income from conti amounts. (Round EPS answers to 2 decimal places.) 2017 COMPARATIVE INCOME STATEMENTS 2018 Income from continuing operations $ 465,000 Income tax expense Net income $ 465,000 Earnings per common share $ 2.03