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Use the following information for the Exercises below.

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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	160	units	@	$	8.50	=	$	1,360
Jan.	10		Sales										120	units	@	$	17.50
Jan.	20		Purchase	100	units	@	$	7.50	=		750
Jan.	25		Sales										120	units	@	$	17.50
Jan.	30		Purchase	220	units	@	$	7.00	=		1,540
			Totals	480	units					$	3,650		240	units

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 units, where 220 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 $1,450, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.)