2. of 2 Linker Company reported the following January purchases and sales data for its only product. The Company uses a periodic inventory system. For specific identification, ending inventory consists of 420 units, where 400 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory Date Activities Unt de cost Jan. 1 Beginning inventory Unitat 230 units $15.50 - $1,565 Jan 10 Skies 180 units $24.50 Jan. 20 Purchase 190 Units $14.50 2.755 Jan. 25 Sales 320 units $24.50 Jan 10 Purchase 400 $14.00 5,600 Totalt 20 units $11.920 100 units 21 Required: 1. Complete comparative Income statements for the month of Janoary for Laker Company for the four inventory mothods. Assume expenses are $2.150, and that the applicable income tax rate is 10% (Round your average cost per unit to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted identification Average FIFO LIFO Sales Cost of goods sold Gross profit Expenses Income before axes 13" Mostly G 2 Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2,150, and that the applicable income tax rate is 10% (Round your average cost per unit to 2 decimal places.) 0 LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income 2. Which method yields the highest net income? SN of 8 > 4341 b