Crane Co. decides at the beginning of 2025 to adopt the FIFO method of inventory valuation. Crane had used the LIFO method for financial reporting since its inception on January 1, 2023, and had maintained records adequate to apply the FIFO method retrospectively. Crane concluded that FIFO is the preferable inventory method because it reports the current cost of inventory on the balance sheet. The following table presents the effects of the change in accounting principles on inventory and cost of goods sold. Other information: 1. For each year presented, sales are $2,780 and operating expenses are $1,050. 2. Crane provides two years of financial statements. Earnings per share information is not required. Prepare income statements under LIFO for 2023, 2024, and 2025. Prepare income statements under FIFO for 2023, 2024, and 2025