Bank Copy Center sells laser printers and supplies. Bank Copy Center started the year with 100 containers of ink (average cost of $9. Center purchased 800 containers of ink at $10.00 and sold 600 units for $20.00 each. Bank Copy Center paid operating expenses throughout the year, a total of $4,000. Bank Copy Center's income statement-excluding the effects D each, FIFO cost of $8.40 each, LIFO cost of $7.90 each). During the year, Bank Copy income tax under each of the average-cost, FIFO, and LIFO inventory costing methods- is given. (Click the icon to view the income statement) Bank Copy Center is a corporation subject to a 40% income tax. Compute Bank Copy Center's income tax expense under the average, FIFO, and LIFO inventory costing methods. Which method would you select to (a) maximize income before tax and (b) minimize income tax expense? (Round your answer to the neare dollar) Bank Copy Center Income Statement Year Ended December 31 Average Cost FIFO LIFO 12,000 $12,000 Sales revenue 12,000 $ 6,000 5,940 5,840 Cost of goods sold 6,160 6,000 Gross profit 6,060 $ 4,000 4,000 4,000 Operating expenses 2,160 2,000 2,060 $ Net income before tax Income tax expense Enter any number in the edit fields and then click Check Answer. Bank Copy Center Income Statement Year Ended December 31 FIFO LIFO Average Cost Sales revenue 12,000 $ 12,000$ 12,000 5,940 5,840 6,000 Cost of goods sold Gross profit 6,060 6,160 6,000 4,000 4,000 4,000 Operating expenses 2,160 $ 2,060 $ 2,000 Net income before tax