The following information is taken from Blue Companys financial statements (amounts in thousands): 12/31/2012 12/31/2011 Inventory at LIFO $219,686 $241,154 Cost of goods sold 754,661 675,138 Stockholders Equity 242,503 242,712 Net Income 31,185 64,150 Tax rate 35% 35% Inventory Footnote: If the first-in, first-out method of accounting for inventory had been used, inventory would have been approximately $26,900 (thousands) and $25,100 (thousands) higher than reported at 12/31/2012 and 12/31/2011, respectively. Use the information above to answer the following: a. Calculate what inventory would have been at 12/31/2012 and 12/31/2011 had the FIFO inventory method been used. b. What would net income for the year ended 12/31/2012 have been if the FIFO inventory method been used? c. Calculate what stockholders' equity would have been at 12/31/2012 and 12/31/2011 had the FIFO inventory method been used.