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 sold at Retail 100 units @ $15 Date Activities Units Acquired at Cost Jan. 1 Beginning inventory 140 units e $6.00 = $ 840 Jan. 10 Sales Jan. 20 Purchase 60 units @ $5.00 - 300 Jan. 25 Sales Jan. 30 Purchase 180 units @ $4.50 - 810 Totals 380 units $1,950 80 units @ $ 15 180 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 200 units, where 180 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 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 $1,250, 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 + Weighted Identification Average FIFO Sales Cost of goods sold Gross profit Expenses Income before taxes 0 Income tax expense Net Income $ LIFO 0 0 0 0 0 0 0 0$ 0 $ 0 $ 0