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 nits sold at Retail Date Activities Jan. 1 Beginning inventory 210 unitse $13.50 $2,835 Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 160 units $22.50 180 units $22.50 150 unitse si2.50 1,875 320 unitse $12.003840 680 units Totals $8,550 340 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 340 where 320 are from the January 30 purchase, S are from the January 20 pgrchase. and 15 are from beginning inventory Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory metho expenses are $1.950. and that the applicable income tax rate is 40%, (Round your Intermediate calculations to 2 deci LAKER COMPANY Income Statements For Month Ended January 31 Saved Help Save & Ch Required 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Ass expenses are $1,950, and that the applicable income tax rte is 40%. (Round your Intermediate calculations to 2 decimal pla LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted FIFO LIFO IdentificationAverage 7,650 S 7650 S 7.650 S 7,650 Sales Cost of goods sold Gros profit Expenses Income before taxes income tax expense Net income 3,138 1,950 1,188 7,650 1,960 5,700 7,650 1,950 5,700 7,650 1,950 ,700 1,188 S 5,700 S 5,700 S5,700 2. Which method yields the highest net income?