Hello Save & CI Required information [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 165 units@ $9.00 - $1,485 Jan. 10 Sales 125 units @ $18.00 Jan. 20 Purchase 110 units@ $8.00 - 880 Jan. 25 Sales 125 units @ $18.00 Jan. 30 Purchase 230 units@ $7.50 = 1,725 Totals 505 units $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units. where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Ass expenses are $1,500 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal pla AKED OMDANV Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,500 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places. LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO 0 0 0 0 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income 0 0 0 0 $ 0 $ 0 $ 0 $ 0 2. Which method yields the highest net income?