Required 1. Complete comparative income statements for the month of January for aker Company for the four inventory methods. Assure expenses are $1,600, and that the applicable income tax rate is 40% (ound your average cost per unit to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO 0 0 0 0 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income 0 0 0 0 $ 05 Required information [The following information applies to the questions displayed below) Laker Company reported the following January purchases and sales ta for its only product. The Company uses a periodic inventory system. For specific identification, ending ventory consists of 305 units, where 275 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 175 units @ $10.00 - $1,750 Jan. 18 Sales 135 units $19.00 Jan. 20 Purchase 130 units@ 9.00 - 1,170 140 units @ $19.00 275 units @ $ 8.00 - 2,200 $5,128 275 units Jan. 25 Sales Jan. 30 Purchase Totals 580 units