The financial statements for Caterpillar showed the following items for the years ending December 31, 2017, 2016, and 2015. All amounts are in millions of dollars. Income statement items: Cost of goods sold Net income Balance sheet item: Inventories Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 $ 28,309 $ 33,546 754 (67) 2,512 $31,049 10,018 8,614 9,700 Note 1. Operations and Summary of Significant Accounting Policies D. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is principally determined using the last-in, first-out (LIFO) method. The value of inventories on the LIFO basis represented about 65% of total inventories on December 31, 2017, and about 60% of total inventories on December 31, 2016, and 2015. If the FIFO (first-in, first-out) method had been in use, inventories would have been $1,924 million, $2,139 million, and $2,498 million higher than reported on December 31, 2017, 2016, and 2015, respectively. 1. What would Caterpillar's inventory have been for 2017, 2016, and 2015, if the company had used FIFO instead of LIFO? 2. What would Caterpillar's net income have been for 2017 and 2016, if the company had used FIFO instead of LIFO? Assume the company's effective tax rates were 28% for 2017 and 36% for 2016.