During 2019 (its first year of operations) and 2020, Fier Foods used the FIFO Inventory costing method for both financial reporting tax purposes. At the beginning of 2021. Fleri decided to change to the average method for both financial reporting and tax purpos Income components before income tax for 2019, 2020 and 2021 were as follows: in millions) Revenues Cost of goods sold (FIFO) (46) (52 Cost of goods sold (average) (64 (68) Operating expenses (266) (274) (278) 2019 $ 440 (44) 2020 $450 2021 $ 480 (74) Dividends of $25 million were paid each year. Flert's fiscal year ends December 31 Required: 1. Prepare the journal entry at the beginning of 2021 to record the change in accounting principle (Ignore Income taxes.) 2. Prepare the 2021-2020 comparative income statements. 3. & 4. Determine the balance in retained earnings at January 1, 2020 as Fieri reported using FIFO method and determine the adjustment of balance in retained earnings as on January 1, 2020 using average method instead of FIFO method. Complete this question by entering your answers in the tabs below. Reg 1 "Rea2 Reg 3 and Prepare the journal entry at the beginning of 2021 to record the change in accounting principle. (Ignore income taxes.) (no entry is required for a transaction/event, select "No journal entry required in the first account Meld Enter your answers in millions le 10,000,000 should be entered as 10).)