Required 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,550, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) Answer is not complete. LAKER COMPANY Income Statements For Month Ended January 31 Specific Identification Weighted Average FIFO LIFO Sales Cost of goods sold Gross proft 0 Income before taxes Income tax expense Net income Required 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,550, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) Answer is not complete. LAKER COMPANY Income Statements For Month Ended January 31 Specific Identification Weighted Average FIFO LIFO Sales Cost of goods sold Gross proft 0 Income before taxes Income tax expense Net income