Required Informatlon Use the following information for the Exercises below The following Information apples to the questions displayed below Laker Company reported the following January purchases and sales data for its only product. Date Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Activities Units Acquired at Cost 170 units@ $9.50 -$1,615 120 units $8.501,020 240 units $8.00 1,920 Units sold at Retail 130 units $18.50 130 units $18.50 260 units Totals 530 units $4,555 The Company uses a perpetual Inventory system. For specific identification, ending Inventory consists of 270 units, where 240 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 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 $1,550, and that the applicable income tax rate is 40%. (R und your intermediate calculations to 2 decimal places.) AKER COMPAN Income Statements For Month Ended January 31 Specific Identification Weighted Average LIFO Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net income