I can't figure out the income tax expense for FIFO

Required information Use the following information for the Exercises below. (The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Units sold at Date Activities Units Acquired at Cost Retail Beginning 55 units @ $8.00= $1,240 inventory Jan. 10 Sales 115 units@ $17.00 Jan. 20 Purchase 90 units @ $7.00= 630 Jan. 25 Sales 95 units @ $17.00 Jan. 30 Purchase 210 units@ $6.50= 1,365 Totals 455 units $3,235 210 units Exercise 5-4 Periodic: Income effects of inventory methods LO A1 For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Prepare comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,400, and that the applicable income tax rate is 40%. 2. Which method yields the highest net income? 3. Does net income using weighted average fall above, between, or below that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest net income? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Prepare comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,400, and that the applicable income tax rate is 40%. 2. Which method yields the highest net income? 3. Does net income using weighted average fall above, between, or below that using FIFO and LIFO? 4. If costs were rising instead of falling, which method would yield the highest net income? X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,400, and that the applicable income tax rate is 40%. (Round your average cost per unit to 2 decimal places.) Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average 3,570.00 $ 3,570.00 $ 1,595.00 $ 1,493.00 1,975.00 $ 2,077.00 1,400.00 $ 1,400.00 575.00 $ 677.00 230.00 $ 270.80 345.00 $ 406.20 $ $ $ $ $ $ $ FIFO 3,570.00 1,635.00 1,935.00 1,400.00 535.00 214.00 321.00 $ $ $ $ $ $ $ LIFO 3,570.00 1,365.00 2,205.00 1,400.00 805.00 322.00 483.00 Required 1 Required 2 >