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. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 175 units @ $10.00 - $1,750 135 units @ $19.00 130 units @ $ 9.00 - 1,170 140 units @ $19.00 275 units @ $ 8.00 - 2,200 580 units $5,120 275 units Required 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,600, and that the applicable income tax rate is 40%. (Round 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 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income 0 0 0 0 0 $ 0 0 S 0