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 Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 170 units $9.50-$1,615 Jan. 10 Sales 130 units $18.50 Jan. 20 Purchase 120 units $8.50 = 1,020 Jan. 25 Sales 130 units @ $18.50 Jan. 30 Purchase Totals 240 unitse $8.00- 530 units 1,920 $4,555 260 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 270 units, where 240 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 $1,550 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 Sales Cost of goods sold Gross profit Specific Identification Weighted Average FIFO LIFO 0 0 0 Expenses Income before taxes 0 0 0 0 Income tax expense Net income $ $ 05 0 $ 0 S < Prev 5 of 10 Next >