Required information Use the following information for the Exercises below The following information applies to the questions displayed belowJ Laker Company reported the following January purchases and sales data for its only product. Activities Date an. 1 Beginning inventory Jan. 10 Sales an. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Units Acquired at Cost 180 units $10.50-$1,890 110 units9.501,045 260 units 9.00 2,340 550 units Units sold at Retail 140 units $19.50 130 units$19.50 Totals $5,275270 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 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 $1.650, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) AKER COMPANY Income Statements For Month Ended January 31 Specific Identification Weighted Average FIFO LIFO 5,265 S 5,265 $ 5.265 5,265 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income 5,265 1,650 3,615 5,265 1,650 3,615 5,265 1,650 3,615 5,265 1,650 3,615 S 3,615 $ 3,615 $S 3,615