The management of Indigo Corporation 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 ( 12,200 units) $ 42,700 Cost of 146,400 units purchased 571,570 Selling price of 117,900 units sold 915,000 Operating expenses 151,500 Units purchased consisted of 42,700 units at $ 3.70 on May 10; 73,200 units at $ 3.90 on August 15; and 30,500 units at $ 4.20 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, e.g. 5,125.)