Please show detailed work, please and thank you.

The management of Tamarisk, Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2019, the accounting records provide the following data. Inventory, January 1 (12,000 units) $54,000 Cost of 120,000 units purchased 638,400 Selling price of 96,000 units sold 840,000 Operating expenses 132,000 Units purchased consisted of 42,000 units at $5.10 on May 10:42,000 units at $5.30 on August 15; and 36,000 units at $5.60 on November 20. Income taxes are 30%. Prepare comparative condensed income statements for 2019 under FIFO and LIFO. Tamarisk, Inc. Condensed Income Statement For the Year Ended December 31, 2019 FIFO LIFO Sales Revenue 840000 840000 Cost of Goods Available for Sale Beginning Inventory 54000 54000 Cost of Goods Purchased 638400 638400 Cost of Goods Available for Sale 692400 692400 Ending Inventory Cost of Goods Sold Gross Profit/(Loss) Operating Expenses Income before Income Taxes Income Tax Expense Net Income /(Loss)