Required information Use the following information for the Exercises below. [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 195 units@ $12.00 - $2,340 Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase 155 units @ $21.00 120 units @ $11.00 - 1,320 135 units @ $21.00 290 units @ $10.50 - 605 units 3,045 $6,705 Totals 290 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 315 units, where 290 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. . . . completion. Return to question Exercise 5-4 Perpetual: Income effects of inventory methods LO A1 Required: 1. Complete comparative Income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,800, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) Answer is not complete. LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LIFO 0 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense 0 0 xo 0 0 0 0