these are the choices for the journal entries

In 2020, Frost Company, which began operations in 2018, decided to change from LIFO to FIFO because management believed that FIFO better represented the flow of their inventory. Management propared the following analysis showing the effect of this change: Frost reported not inoome of $2,487,000,$2,332,000, and $2,057,000 in 2018,2019, and 2020 , respectively. The tax rate is 40%. Required: 1. Prepare the joumal entry necossary to recovd the change. 2. What amount of net income would frost report in 2016, 2019, and 2020 ? Chart of Accounts CHART OF ACCOUNTS Frost Company General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 154 Deferred Tax Asset 511 Insurance Expense 181 Equipment 512 Utilities Expense 189 Accumulated Depreciation 521 Salaries Expense 532 Bad Debt Expense LIABILITIES 540 Interest Expense 211 Accounts Payable 541 Depreciation Expense 231 Salaries Payable 559 Miscellaneous Expenses 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 154 Deferred Tax Asset 511 Insurance Expense 181 Equipment 512 Utilities Expense 189 Accumulated Depreciation 521 Salaries Expense 532 Bad Debt Expense LIABILITIES 540 Interest Expense 211 Accounts Payable 541 Depreciation Expense 231 Salaries Payable 559 Miscellaneous Expenses 250 Unearned Revenue 910 Income Tax Expense 260 Deferred Tax Liability EQUITY 311 Common Stock 331 Retained Earnings 1. Prepare the journal entry to reflect the change on January 1, 2020. General Journal Instructions 2. What amount of net income would Frost report in 2018, 2019, and 2020 after the change and restatement