[The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product Activities Units Acquired at Cost 155 units $8.00 = $1,240 Units sold at Retail Date Jan. 1 Beginning inventory 115 units Jan. 10 Sales $17.00 90 units $7.00 Jan. 20 Purchase 630 Jan. 25 Sales 95 units @ $17.00 210 units@ $6.50 Jan. 30 Purchase 1,365 455 units $3,235 210 units Totals The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 245 units, where 210 are from the January 30 purchase, 5 are from the January 20 purchase, and 30 are from beginning inventory. Required: 1. Complete comparative income statements for the month expenses are $1,400, and that the applicable income tax rate is 40%. (Round your Intermediate calculations to 2 decimal places.) January for Laker Company for the four inventory methods. Assume LAKER COMPANY Income Statements For Month Ended January 31 Specific Weighted LIFO Identification Average FIFO 3,570 1,625 3,570$ Sales $ 3,570 $ 3,570 Cost of goods sold Gross profit Expenses 1-95 3,570 1,400 This is a numeric cell, so please enter numbers only. Income before taxes 2,170 Income tax expense 218 327 $ 2,170$ 2,170 $ $ 2,170 Net income