The following information pertains to the inventory of Parvin Company for Year 3 : January1April1October1Beginninginventory500unita+$19Purehated2,900unitsE524Purehased800unitn$25 During Year 3 , Parvin sold 3,570 units of inventory at $42 per unit and incurred $17,000 of operating expenses, Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $51,500. inventory of $9,500, common stock of $38,000, and retained earnings of $23,000. Required a. Prepare income statements using FIFO and LIFO. Note: Round intermediate calculations and final answers to the nearest whole dollar amount