Question: Question 40 --/1 View Policies Current Attempt in Progress During 2017, Larkspur Inc. changed from LIFO to FIFO inventory pricing. Larkspur began operations in 2015

Question 40 --/1 View Policies Current Attempt in Progress During 2017, Larkspur Inc. changed from LIFO to FIFO inventory pricing. Larkspur began operations in 2015 and its pretax income in 2016 and 2015 under LIFO was $540,000 and $621,000, respectively. Pretax income using FIFO pricing in the prior years would have been $560,000 in 2015 and $671,000 in 2016. In 2017, Larkspur reported pretax income using FIFO pricing of $636,000. Show comparative income statements for Larkspur beginning with Income before income tax," as presented in the 2017 income statement. The tax rate for all years is 30%. 2017 2016 2015 Income before income tax $ $ $ Income tax Net Income $ TA $
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