XXXXX Bentley Inc. started business in 2011 and follows ASPE. Effective January 1, 2015, the company decided to change its method of inventory from FIFO to moving weighted average. The company has a December 31 year end; a tax rate of 30%; and declared no dividends until 2015 when $10,000 were declared and paid in December. Net income for 2015 was calculated to be $98,000 using the moving weighted average method. Excess of COGS of FIFO over Net income Year as reported moving weighted average inventory methods 2011 73,000 35,000 2012 2013 2014 99,000 92,000 97,000 37,000 23,000 24,000 a) Prepare the statement of retained earnings for the year ended December 31, 2015 assuming that the change in accounting policy was implemented retrospectively. Please make sure your final answer(s) are accurate to 2 decimal places. Bentley Inc. Statement of Retained Earnings For the Year Ended December 31, 2015 b) Calculate the income tax amount for retained earnings adjusting entry. Please make sure your final answer(s) are accurate to 2 decimal places. Reporting requirement: Adjusting entry is net of tax for $