Presented below are the condensed financial statements of Dino Enterprises:

The footnotes to the financial statements reveal that the company uses LIFO to account for it

inventory, and that the value of the company's LIFO reserve was as follows:

A$.$ Restate the company's net income for Year $2$ to reflect the use of FIFO instead of LIFC

Assume an effective tax rate of $30$ percent.

B$.$ Assuming a change to FIFO is made for income tax purposes, how much will income taxe

change for Year $2?$

C$.$ Calculate the new balances of the company's balance sheet accounts as of December $31$

Year $2$ to reflect a change to FIFO.

D$.$ Calculate the current ratio for Year $2$ under FIFO and LIFO. Under which inventory metho

does the company appear more liquid?

please provide answer in nice format and clear formulas. i have got wrong answer before