Required Informatiorn Use the following information for the Exercises below The following Information apples to the questions displayed belowj Laker Company reported the following January purchases and sales data for its only product. Date Activities Unit Acquired at Co t Jan 1 Eeginning inventory 230 units e $15.50 3,565 90 unit @ $14.50-2,755 400 units e 14.00 5,600 Unit old at Retil 180 unit @ $24.50 220 units 24.50 Jan. 10 Sales Jan. 20 Purchase Jan. 30 Purchase Totals 820 units $11,920 400 unit Exercise 5-6 Periodic: Income effects of inventory methods LO A1 Required 1. Complete comparative Income statements for the month of January for Laker Company using the perlodic Inventory system for the four inventory methods. Assume expenses are $2150, and that the applicable income tax rate is 40%. (Round your average cost per unlt to 2 declmal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Avera FIFO LIFO Sales Cost of goods sold Gross profit Income before taxes Income tax expense Net income