Please help these questions.. please please

During 2019, Illini Co. decides to use LIFO to account for its inventory transactions. Previously, it had used FIFO. Multiple Choice Illini has made a change in accounting principle requiring retrospective adjustment Illini needs to correct an accounting error. Illini has made a change in accounting principle requiring prospective application. Illini is not required to make any accounting adjustments. Which of the following is an example of a change in reporting entity? Multiple Choice Consolidating a new subsidiary. A change in the actuarial life expectancies of employees under a pension plan. A change in inventory costing methods. A change in the estimated useful life of a depreciable asset. An accounting change that is reported by the prospective approach is NOT reflected in the financial statements of: Multiple Choice Prior years plus the current year. Prior years only. The current year only. Current and future years. Early in 2018, Illini Co. discovered that a three-year insurance premium payment of $50,000 at the beginning of 2015 was debited to insurance expense. The correcting entry would include: Multiple Choice No entry is needed. A debit to insurance expense of $20,000. A debit to prepaid insurance of $30,000. A credit to retained earnings of $20,000