The management of Bonita Industries asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2022, the accounting records show these data. Inventory, January 1 (13,500 units) $54,000 Cost of 123,000 units purchased 542,000 780,000 Selling price of 102,000 units sold Operating expenses 125,000 Units purchased consisted of 38,000 units at $4.20 on May 10; 57,000 units at $4.40 on August 15; and 28,000 units at $4.70 on November 20. Income taxes are 30% (a) Prepare comparative condensed income statements for 2022 under FIFO and LIFO. (Round answers to 0 decimal places, e.g. 5,125.) Bonita Industries Condensed Income Statements For the Year Ended December 31, 2022 FIFO LIFO $ $ $ $ tA