Question 36 Not yet answered LEITRIM Company changed from the the average Cost to the First In First Out (FIFA) cost assumption in 2020 The increase in prior years Income Before Tax attributable to this change is $5,000,000. The tax rate is 50% LETTRIM Company's Journal Entry in 2020 to implement this change will include two credit Entries. Which of the following sets of credit entries is correct? Marked out of 1.00 Flag question Select one a Credit Retained Eamings $3,400,000; Credit Ceferred Tax Liability $1,000,000. b. Credit Retained Eamings $2,500,000; Credit Deferred Toy Liability $2,500,000 oc. Credit Retained Earnings $2,600,000; Credit Deferred Tax liability $2,400,000 d. None of these answers e credit Retained earings $2,000,000; Credit Deterred tax uablity $3,000,000