Question 2 Tries remaining: 1 Marked out of 4.00 P Flag question Reformulating Balance Sheet and Income Statement Items for LIFO to FIFO In its December 2016 10-K, LyondellBasell Industries reported the following information (5 millions). Cost of LIFO Increase in Total Net Goods Sold Inventories Reserve LIFO Reserve Assets Income $25,460 $4,142 $832 759 526,775 $4,170 Support Reformulate the account balance for the following financial statement items assuming the company used FIFO instead of LIFO for its inventory costing method. The company has a 35% tax rate. Account Balance a. Inventories b. Total assets c. Cost of goods sold $ d. Net Income Check