The management of Coronado Industries asks your help in determining the comparative effects of the FIFO and LIFO inventory cost low methods. For 2022, the accounting records show these data. Inventory, January 1 (9,940 units) $33,796 Cost of 121,880 units purchased 464,748 Sales revenue on 99,560 units 791,800 Operating expenses 122,702 Units purchased consisted of 32,720 units at $3.60 on May 10, 62,000 units at $3,80 on August 15, and 27,160 units at $4.10 on November 20. Income taxes are 30%. (a) Prepare comparative condensed income statements for 2022 under FIFO and LIFO. (Round answers to O decimal places, eg. 5,125) Coronado Industries Condensed Income Statements For the Year Ended December 31, 2022 Sales Cost of Goods Sold Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale FIFO LIFO $ Sales Cost of Goods Sold Beginning Inventory Cost of Goods Purchased Cost of Goods Available for Sale Less : Ending Inventory Cost of Goods Sold Gross Profit Operating Expenses Income before Income Taxes Income Tax Expense Net Income/(Loss) < Coronado Industries Condensed Income Statements For the Year Ended December 31, 2022 FIFO $ $ LIFO