The cumulative effect of most changes in accounting principle is reported: Multiple Cholce In the income statement after Income and before income tax. In the balance sheet accounts affected. In the income statement between income from continuing operations and net income. In the income statement before income from continulng operatlons. The cumulative effect of most changes in accounting principle is reported: Multiple Cholce In the income statement after Income and before income tax. In the balance sheet accounts affected. In the income statement between income from continuing operations and net income. In the income statement before income from continulng operatlons