Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2013, Wolfgang decided to change to the LIFO method. Net income in 2013 was correctly stated as $90 million. If the company had used LIFO in 2012, its cost of goods sold would have been higher by $7 million that year. Company accountants are able to determine that the cumulative net income for all years prior to 2012 would have been lower by $23 million if LIFO had been used all along, but have insufficient information to determine specific effects of using LIFO in 2011. Last year, Wolfgang reported the following net income amounts in its comparative income statements: ($ in millions) 2012 2011 2010 Net income $ 94 $ 92 $ 90 Required: 1. Prepare the journal entry at the beginning of 2013 to record the change in accounting principle. (Ignore income taxes.) (If no entry is required for a particular event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Record the changes in accounting principle. 3. What amounts will Wolfgang report for net income in its 2013-2011 comparative income statements? (Enter your answers in millions.) 2013 2012 2011 nex income $ $ $ lifo lifo revised fifo