Assume units in BE 5-6 were SOLD FOR $100 EACH. Assume operating Eepenses were $25,000 ToTAL Assume Income Tores are 20% of NIB4 TAx Expense Required: Phepare multi steg Income STmT For EACH COsT FLow Assumption (method). FIFO Whave 1F0 Sales revenues 665 6 ross mgn - Operi.Expenses NIB\&TARExp -Tix Expense NI Assume units in BE 5-6 were SOLD FOR $100 EACH. Assume operating Eepenses were $25,000 ToTAL Assume Income Tores are 20% of NIB4 TAx Expense Required: Phepare multi steg Income STmT For EACH COsT FLow Assumption (method). FIFO Whave 1F0 Sales revenues 665 6 ross mgn - Operi.Expenses NIB\&TARExp -Tix Expense NI