need help asap, thanks!

1. Restate the income statement to reflect LCM/NRV valuation of the ending inventory. Apply LCM/NRV on an item-by-item basis. 2. Compare the LCM/NRV effect on each amount that was changed in the preliminary income statement in requirement 1. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compare the LCM/NRV effect on each amount that was changed in the preliminary income statement in requirement 1. (Decreases should be indicated by a minus sign.) Item Changed LIFO Cost Basis Ending Inventory Cost of Goods Sold $ 27,320 $ 84,680 Amount of LCM/NRV Increase Basis (Decrease) $ 18,160 $ (9,160) X $ 84,680 $ 9,160 X $ 63,320 X $ (9,160) X $ 63,320 $ 30,320 $ 30,320 X $ (9,160) Gross Profit Income from Operations Income Tax Expense Net Income $ 9,096 $ 4,769 X $ (4,327) X (2,698) X $ 21,224 $ 18,526 X $