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Sage Company started operations on January 1,2015, and has used the FIFO method of inventory...

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Accounting

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Sage Company started operations on January 1,2015, and has used the FIFO method of inventory valuation since its inception, In 2021 , it decides to switch to the average-cost method, You are provided with the following information. (a) What is the beginning retained earnings balance at January 1,2017, if Sage prepares comparative financial statements starting in 2017 ? Retained earnings, fanuary 1 (b) What is the beginning retained earnings balance ot january 1, 2020, if Sage prepares comparative financial statements starting in 2020 ? Retained earnirigs, January 1 (c) What is the beginning retained earnings balance at Jandary 1,2021. if Sage prepares single-perioci fuancial statements for 2021 ? Fetainotearniogs, January 2 (d) What is the net income reported by Sage in the 2020 income statement if it prepares comparative financial statements starting with 2018

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