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 Beginning Jan. 1 - inventory Jan.10 Sales Jan.20 Purchase Jan.25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 180 units@ $10.50 = $1,890 140 units @ $19.50 110 units@ $ 9.50 = 1,045 130 units @ $19.50 260 units@ $ 9.00 = 2,340 550 units $5,275 270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory. Required: Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,650 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 The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 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 $1,650 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 Welghted Identification Average Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income