! Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product Units Acquired at Cost Activities Units sold at Retail Date 1 Beginning inventory 240 units $16.50 $ 3,960 Jan. 190 units Jan. 10 Sales $25.50 170 unitsf $15.50 Jan. 20 Purchase 2,635 $25.50 Jan. 25 Sales 190 units e Jan. 30 Purchase 380 unitsf $15.00 5,700 380 units Totals 790 units $12,295 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 410 units, where 380 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory. Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $2,250, 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 Sales S 9,690 S 9,690 9,690 $ 9,690 Cost of goods sold Gross profit 9,690 9,690 9,690 9,690 Expenses Income before taxes 9,690 9,690 9,690 9,690 Income tax expense 9,690 9,690 S 9,690 9,690 Net income