Waterway Company began operations in 2018 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2020, in accordance with other companies in its industry, Waterway changed its inventory pricing to FIFO. The pretax income data is reported below.

Year		Weighted-Average			FIFO
2018		$381,800			$411,000
2019		405,100			432,600
2020		415,200			469,900

Assume a 35% tax rate in all years.

(a)

	Your answer is incorrect. Try again.

What is Waterways net income in 2020?