The following comparative information is available for Flounder Corp. for 2022. LIFO FIFO Sales revenue $101,480 $101,480 Cost of goods sold 44,840 34,220 Operating expenses (including depreciation) 31,860 * 31,860 Depreciation 11,800 11,800 Cash paid for inventory purchases 37,760 37,760 (a) Determine net income under each approach. Assume a 30% tax rate. Net income +A $ LIFO FIFO tA $