The management of Tritt Company has asked its accounting department to describe the effect upon the companys financial position and its income statements of accounting for inventories on the LIFO rather than the FIFO basis during 2014 and 2015. The accounting department is to assume that the change to LIFO would have been effective on January 1, 2014, and that the initial LIFO base would have been the inventory value on December 31, 2013. Presented below are the companys financial statements and other data for the years 2014 and 2015 when the FIFO method was employed. Financial Position as of 12/31/13 12/31/14 12/31/15 Cash $ 91,890 $131,790 $155,380 Accounts receivable 81,800 101,740 121,010 Inventory 121,010 141,230 177,100 Other assets 161,110 171,870 201,610 Total assets $455,810 $546,630 $655,100 Accounts payable $ 41,790 $ 61,150 $ 81,800 Other liabilities 71,390 82,260 110,600 Common stock 201,610 201,610 201,610 Retained earnings 141,020 201,610 261,090 Total liabilities and equity $455,810 $546,630 $655,100 Income for Years Ended 12/31/14 12/31/15 Sales revenue $1,019,249 $1,526,141 Less: Cost of goods sold 501,200 766,500 Other expenses 203,900 303,700 705,100 1,070,200 Income before income taxes 314,149 455,941 Income taxes (40%) 125,660 182,376 Net income $188,489 $ 273,565 Other data: 1. Inventory on hand at December 31, 2013, consisted of 41,900 units valued at $3.36 each. 2. Sales (all units sold at the same price in a given year): 2014-151,900 units 2015-181,900 units 3. Purchases (all units purchased at the same price in given year): 2014-151,900 units @ $3.92 each 2015-181,900 units @ $4.92 each 4. Income taxes at the effective rate of 40% are paid on December 31 each year. Name the account(s) presented in the financial statements that would have different amounts for 2015 if LIFO rather than FIFO had been used, and state the new amount for each account that is named. Account New amount for 2015 $