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 220 units @ $ 14.50 = $ 3,190 Jan. 10 Sales 170 units @ $ 23.50 Jan. 20 Purchase 170 units @ $ 13.50 = 2,295 Jan. 25 Sales 200 units @ $ 23.50 Jan. 30 Purchase 340 units @ $ 13.00 = 4,420 Totals 730 units $ 9,905 370 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 360 units, where 340 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory. Exercise 6-4 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 $2,050, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.)