The Hasting Company began operations on January 1, 2013 and uses the FIFO method in costing its raw material inventory. An analyst is wondering what net income would have been if the company had consistently followed LIFO instead of FIFO) from the beginning, 1/1/2013. He has the following information available to him: What would net income have been in 2014 if Hastings had used LIFO since 1/1/2013? O $ 110,000 O $ 150,000 O $ 170,000 O $ 230,000 12/31/2013 12/31/2014 Final Inventory Under FIFO Under LIFO $ 240,000 $ 200,000 $ 270,000 $ 210,000 For 2013 $ 120,000 For 2014 $ 170,000 Pretax Income under FIFO