*prepare a statement of comprehensive income, using the two statement format. ignore income taxes and earnings per share

E4.14 (L03,4) (Change in Accounting Principle) Zehms Company began operations in 2017 and adopted weighted average pricing for inventory. In 2019, in accordance with other companies in its industry, Zehms changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted-Average FIFO 2017 $370,000 $395,000 2018 390,000 420,000 2019 410,000 460,000 Instructions What is Zehms's net income in 2019? Assume a 35% tax rate in all years. Compute the cumulative effect of the change in accounting principle from weighted average to FIFO inventory pricing. Show comparative income statements for Zehms Company, beginning with income before income fax, as presented on the 2019 income statement. G emarted the following for 2019: net sales