can someone answer these?

Springer Anderson Gymnastics prepared its annual financial statements dated December 31. The company reported its inventory using the LIFO inventory costing method but did not compare the cost of its ending inventory to its market value (replacement cost). The preliminary income statement follows: Sales Revenue $ 136,000 Cost of Goods Sold Beginning Inventory Purchases $ 14,000 89,000 Goods Available for Sale : Ending Inventory 103,000 24,150 Cost of Goods Sold Gross Profit Operating Expenses 75,850 57,150 30,000 27,150 8,145 Income from Operations Income Tax Expense (30%) Net Income $ 19,005 Assume that you have been asked to restate the financial statements to incorporate the LCM/NRV rule. You have developed the following data relating to the ending inventory Assume that you have been asked to restate the financial statements to incorporate the LCM/NRV rule. You have developed the following data relating to the ending inventory. Purchase Cost Replacement Cost per Item Quantity Per Unit Total Unit 2,100 $ 2.80 $5,880 $3,80 750 3.00 2,250 1.80 3,300 1.00 5,940 .90 2,100 4.80 10,080 2.80 $ 24,150 Required: 1. Restate the income statement to reflect LCM/NRV valuation of the ending inventory. Apply LCM/NRV on an item-by-item basis. 2. Compare the LCM/NRV effect on each amount that was changed in the preliminary income statement in requirement 1 1500A B pom Required 1 Required 2 Restate the income statement to reflect LCM/NRV valuation of the ending inventory. Apply LCM/NRV on an item-by-item basis. SPRINGER ANDERSON GYMNASTICS Income Statement (LCM/NRV basis) For the Year Ended December 31 Sales Revenue $ 136,000 Cost of Goods Sold S 30,000 Beginning Inventory Purchases Goods Available for Sale: Cost of Goods Sold Ending Inventory Gross Profit Operating Expenses Income from Operations Income Tax Expense Net Income 14,000 89,000 103,000 Required 2 > 4 Compare the LCM/NRV effect on each amount that was changed in the preliminary income statement in requirement 1. (Decreases should be indicated by a minus sign.) Item Changed LIFO Cost Basis LCM/NRV Basis Amount of Increase (Decrease) Ending Inventory Cost of Goods Sold Gross Profit Income from Operations Income Tax Expense Net Income