The following five transactions occurred in Year 2: 1. First purchase (cash) 115 units a $89 2. Second purchase (cash) 205 units @$97 3. Sales (all cash) 345 units a $193 4. Pald $14,600 cash for salaries expense 5. Paid cash for income tax at the rate of 25 percent of income before taxes Required o. Compute the cost of goods sold and ending inventory, assuming (1) FIFO cost flow, (2) LIFO cost flow, and (3) weighted-average cost flow. b. Use a vertical model to show the Year 2 income statement, balance sheet, and statement of cash flows under FIFO, LIFO. and welghted average. (Hint: Record the events under an accounting equation before preparing the statements)