Question 9 Zehms Company began operations in 2013 and adopted weighted average pricing for inventory. In 2015, in accordance with other companies in its industry, Zehms changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted Average FIFO 2013 $370,000 $395,000 2014 390,000 420,000 2015 410,000 460,000 Your answer is correct. What is Zehms's net income in 2015? Assume a 35% tax rate in all years. 2015 Net Income 299000 LINK TO TEXT LINK TO TEXT x] Your answer is incorrect. Compute the cumulative effect of the change in accounting principle from weighted average to FIFO invertory pricing. 61750 Cumulative effect of change in accounting principle Your answer is partially correct. Show comparative income statements for Zehms Company, beginning with income before income tax, as presented on the 2015 income statement. 2015 2014 2013 sales 460000 420000 395000 tax 161000 147000 138250 Net Income/(Loss) 299000 273000 256750