Splish Construction Company, which began operations in 2025 , changed from the cost-recovery to the percentage-of-completion method of accounting for long-term construction contracts during 2026. For tax purposes, the company employs the cost-recovery method and will continue this approach in the future. The appropriate information related to this change is as follows. (a) Assuming that the tax rate is 20%, what is the amount of net income that would be reported in 2026 ? Net income $ eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) What entry is necessary to adjust the accounting records for the change in accounting principle? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)