Presented below are income statements prepared on a LIFO and FIFO basis for Flint Company, which started operations on January 1,2024. The company presently uses the LIFO method of pricing its inventory and has decided to switch to the FIFO method in 2025. The FIFO income statement is computed in accordance with the requirements of GAAP. Flint's profitsharing agreement with its employees indicates that the company will pay employees 10% of income before profit-sharing. Income taxes are ignored. Answer the following questions. If comparative statements are prepared, what net income should Flint report in 2024 and 2025? Presented below are income statements prepared on a LIFO and FIFO basis for Flint Company, which started operations on January 1,2024. The company presently uses the LIFO method of pricing its inventory and has decided to switch to the FIFO method in 2025. The FIFO income statement is computed in accordance with the requirements of GAAP. Flint's profitsharing agreement with its employees indicates that the company will pay employees 10% of income before profit-sharing. Income taxes are ignored. Answer the following questions. If comparative statements are prepared, what net income should Flint report in 2024 and 2025