The accounting records of Walls China Shop reflected the following balances as of January 1, Year 2:

Cash	$	16,100
Beginning inventory		19,360		(220 units @ $88)
Common stock		14,200
Retained earnings		21,260

The following five transactions occurred in Year 2:

First purchase (cash) 115 units @ $90

Second purchase (cash) 205 units @ $98

Sales (all cash) 365 units @ $193

Paid $14,600 cash for salaries expense

Paid cash for income tax at the rate of 25 percent of income before taxes

\begin{tabular}{|l|c|c|c|} \hline & FIFO & LIFO & Weighted Average \\ \hline Cost of goods sold & & & \\ \hline Ending inventory & & & \\ \hline \end{tabular} Income Statements \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ For the Year Ended December 31, Year 2} \\ \hline & FIFO & LIFO & Weighted Average \\ \hline & & 0 & 0 \\ \hline Salaries expense & & & \\ \hline Income before tax & & & \\ \hline & & & \\ \hline \end{tabular} WALL'S CHINA SHOP