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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 225 units @ $15.00 $ 3,375 Jan. 10 Sales 175 units @ $24.00 Jan. 20 Purchase 180 units @ $14.00- Jan. 25 Sales Jan. 30 Purchase Totals 350 units @ $13.50 755 units 2,520 4,725 $10,620 210 units @ $24.00 385 units) The Company uses a perpetual Inventory system. For specific identification, ending inventory consists of 370 units, where 350 are from the January 30 purchase. 5 are from the January 20 purchase, and 15 are from beginning inventory. 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 $2,100 and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.)