Laker Company reported the following January purchases and sales data for its only product Units sold at Retail Date Activities Jan. 1 Beginning Inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 215 units@ $14.00 - $3,010 160 units $13.00 2,080 330 units $12.50 4,125 705 units 39,215 165 units @ $23.00 190 units @ $23.00 355 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 350 units, where 330 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory Exercise 6-4 Perpetual: Income effects of inventory methods LO A1 Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2.000 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 Cost of goods sold Gross proft Expenses Income before taxes Income tax expense Net Income 0 D 0 0 0 $ $ 0 $ 0 5