Exercise 9-05 Presented below is information related to Whispering Enterprises. Jan. 31 $16,650 16,095 Inventory at cost Inventory at LCNRV Purchases for the month Sales for the month Feb. 28 $16,761 13,986 18,870 32,190 Mar. 31 $18,870 17,316 26,640 38,850 Apr. 30 $15,540 14,763 29,415 44,400 From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost; the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) February March April - $ Prepare the journal entry required to establish the valuation account at January 31 and entries to adjust it monthly thereafter. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work