The accounting records of Walls China Shop reflected the following balances as of January 1, Year 3:

Cash	$	18,900
Beginning inventory		19,565		(215 @ $91)
Common stock		15,300
Retained earnings		23,165

The following five transactions occurred in Year 3:

1. First purchase (cash): 125 units @ $93
2. Second purchase (cash): 205 units @ $101
3. Sales (all cash): 370 units @ $198
4. Paid $15,550 cash for salaries expense
5. Paid cash for income tax at the rate of 25 percent of income before taxes

b. Use a vertical model to show the Year 3 income statement, balance sheet, and statement of cash flows under FIFO, LIFO, and weighted average. (Hint: Record the events under an accounting equation before preparing the statements.)