Courtney Company uses a periodic inventory system. The following data was available: beginning merchandise inventory, $1,200$ units

at $$40$; purchases, $4,800$ units at $$45$; operating expenses $($excluding income taxes$),$ $$92,500$; ending inventory per physical count at

December $31,1,000$ units; sales price per unit, $$85$; and average income tax rate, $30$ percent.

Required:

Prepare income statements under the FIFO and weighted average costing methods. $($Do not round Weighted average cost per

unit. Round your final answers to the nearest dollar amount.$)$