Question 7 of 8 - / 1 View Policies Current Attempt in Progress Oriole Company began operations in 2018 and for simplicity reasons, adopted weighted average pricing for inventory. In 2020, in accordance with other companies in its industry, Oriole changed its inventory pricing to FIFO. The pretax income data is reported below. Year 2018 2019 2020 Weighted- Average $373.100 408,500 418,500 FIFO $412.000 434,600 466,900 Assume a 35% tax rate in all years. What is Oriole's net income in 2020? Net Income $ e Textbook and Media Compute the cumulative effect of the change in accounting principle from weighted average to FIFO inventory pricing. Net effect $ e Textbook and Media Show comparative income statements for Oriole Company, beginning with income before income tax, as presented on the 2020 income statement. 2020 2019 2018 Income before income tax $ $ $ Income tax Net income $ $