WB Company began operations in 2018 and adopted FIFO for inventory pricing.During 2020, the company changed from FIFO to weighted average inventory pricing. The income tax rate is 30%.Pretax income data is as follows:

YearFIFOWeighted Average

2018$370,000$290,000

2019$390,000$490,000

2020430,000$400,000

Using the above information what is the cumulative effect of the change in accounting principle from FIFO to weighted average inventory pricing as reported on the statement of retained earnings for the year ended Dec. 31, 2020