Sunland Company began operations in 2018 and for simplicity reasons, adopted weighted average pricing for inventory. In 2020, in accordance with other companies in its industry, Sunland changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted- Average FIFO 2018 $375,300 $413,700 2019 410,600 425,700 2020 419,500 477,100 What is Sunland's net income in 2020? Assume a 35% tax rate in all years. Net Income $ e Textbook and Media Compute the cumulative effect of the change in accounting principle from weighted average to FIFO inventory pricing. Net effect $ e Textbook and Media Show comparative income statements for Sunland Company, beginning with income before income tax, as presented on the 2020 income statement. 2020 2019 2018 Income before income tax $ Income tax Net income