Courtney Company uses a periodic inventory system. The following data were available: beginning inventory, 1,200 units at $30; purchases, 3,600 units at $34; operating expenses (excluding income taxes), $90,000; ending inventory per physical count at December 31, 850 units; sales price per unit, $70; and average income tax rate, 30% Required 1. Prepare income statements under the FIFO, LIFO, and weighted average costing methods. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Inventory Costing Method Weighted Average Units FIFO Income Statement Sales Revenue Cost of Goods Sold* Gross Profit Operating Expenses Income from Operations Income Tax Expense Net Income LIFO Weighte Average Units FIFO LIFO Cost of Goods Sold Equation Beginning Inventory Purchases Goods Available for Sale Ending Inventory Cost of Goods Sold