Saved Required information (The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product Date Activities Units Acquired at Cost Units sold at Retail 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 Jan. Beginning The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 240 220 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning invento Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory metho expenses are $1.450 and that the applicable income tax rate is 40% (Round your Intermediate calculations to 2 decu Help Required information 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 LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted Identification Average FIFO LEO 000 Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income 0 0 0 05 050