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 $ 91,770 $131,470 $155,420 Accounts receivable 81,720 101,400 121,540 Inventory 121,540 141,460 177,790 Other assets 161,100 171,890 201,060 Total assets $456,130 $546,220 $655,810 Accounts payable $ 41,570 $ 61,500 $ 81,720 Other liabilities 72,250 82,600 111,160 Common stock 201,060 201,060 201,060 Retained earnings 141,250 201,060 261,870 Total liabilities and equity $456,130 $546,220 $655,810 Income for Years Ended 12/31/14 12/31/15 Sales revenue $1,075,529 $1,602,321 Less: Cost of goods sold 508,400 762,300 Other expenses 206,700 309,400 715,100 1,071,700 Income before income taxes 360,429 530,621 Income taxes (40%) 144,172 212,248 Net income $216,257 $ 318,373 Other data: 1. Inventory on hand at December 31, 2013, consisted of 46,100 units valued at $3.44 each. 2. Sales (all units sold at the same price in a given year): 2014-156,100 units 2015-186,100 units 3. Purchases (all units purchased at the same price in given year): 2014-156,100 units @ $4.02 each 2015-186,100 units @ $5.05 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 $