The accounting records of Walls China Shop reflected the following balances as of January 1, Year 3 , The following five transacuons occurred in Year 3 . 1. First putchase (cash) 120 units a $94 2. Second purchase (cash) 205 units 9$102 3. Sales (all cash); 350 units a 5190 4. Paid 515150 cash tor salaries expense 5. Paid cash for income tax at the rate of 25 percent of income before taxes: a. Compute the cost of goods sold and ending inventory. ansurning (1) FIFO cost llow, (2) LIFO cost fow, and (3) weghted uverage cogt Required b-1. Use a verucal model to show the Year 3 income statement undes FiFO, UFO, and weighted average filite Record the envents: flow. Compute the income tax expense for each method b-2. Use a vertical modei to show the Yean 3 balance sheet under FIFO, UFO, and weighted average (Hint gecord the evente unde under anaccounting equation before preparing the stotements) b-3. Use a venicai model to show the Year 3 statement of cash fiows undet FIFO. LFO. and weighted werage (faut Record the an accounting equation befoce preparing the statements] beveits under an accounting equation belote preparing the statements)