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. Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 240 units @ $16.50 = $ 3,960 Jan. 10 Sales 190 units @ $25.50 Jan. 20 Purchase 170 units@ $15.50 2,635 Jan. 25 Sales 190 units $25.50 Jan. 30 Purchase 380 units@ $15.00 = 5,700 Totals 790 units $12,295 380 units Date 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 average cost per unit to 2 decimal places.) Sales Cost of goods sold Gross profit Exponses Income before taxes Income tax expense Not income LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO $ 9,6905 9,6909,690.000 0.105 6,130 3,585 9.600 3560 9.890 2.250 2,250 2.250 2.250 1,335 7440 1310 7.440 534 524 $ 8015 7.440S 786s 7.440