Cullumber Company began operations in 2015 and for simplicity reasons, adopted weighted-average pricing for inventory. In 2017, in accordance with other companies in its industry, Cullumber changed its inventory pricing to FIFO. The pretax income data is reported below. Year Weighted-Average FIFO2015 $379,700 $401,7002016 407,400 427,9002017 413,500 469,200A) What is Cullumber’s net income in 2017? Assume a 35% tax rate in all years. B) Compute the cumulative effect of the change in accounting principle from weighted-average to FIFO inventory pricing. C) Show comparative income statements for Cullumber Company, beginning with income before income tax, as presented on the 2017 income statement. 2017 2016 2015Income before income taxIncome taxNet income

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.