The Year 1 financial statements of Bjart Company reported net income for the year ended December 31, Year 1, of $2 million. On July 1, Year 2, subsequent to the issuance of the Year 1 financial statements, Bjart changed from an accounting principle that is not generally accepted to one that is generally accepted. If the generally accepted accounting principle had been used in Year 1 , net income for the year ended December 31, Year 1, would have been decreased by $1 million. On August 1, Year 2, Bjart discovered a mathematical error relating to its Year 1 financial statements. If this error had been discovered in Year 1, net income for the year ended December 31, Year 1, would have been increased by $750,000. What amount, if any, should be included in net income for the year ended December 31, Year 2, because of the items noted above? $0 $750,000 increase $750,000 decrease $1,000,000 decrease
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