Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2021, Wolfgang decided to change to the LiFO method. Net income in 2021 was correctly stated as \$106 million. If the company had used LIFO in 2020, its cost of goods sold would have been higher by $15 million that year. Company accountants are able to determine that the cumulative net income for all years prior to 2020 would have been lower by $31 million if LIFO had been used all along, but have insufficient information to determine specific effects of using UIFO in 2019. Last year, Wolfgang reported the following net income amounts in its comparative income statements: Required: 1. Prepare the journal entry at the beginning of 2021 to record the change in accounting principle. (ignore income taxes.) 3. What amounts will Wolfgang report for net income in its 20192021 comparative income statements? Prepare the journal entry at the beginning of 2021 to record the change in accounting principle. (Ignore in required for a transaction/event, select "No journal entry required" in the first account field. Enter your ans 10,000,000 should be entered as 10).) Journal entry worksheet Record the change in accounting principle. Note: Enter debits before eredits: What amounts will Wolfgang report for net income in its 2019-2021 com millions (i.e., 10,000,000 should be entered as 10 ).)