The management of Sheffield Corp. 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) $40,500 Cost of 118,000 units purchased 401,200 Selling price of 104,000 units sold 796,000 Operating expenses 126,500 Units purchased consisted of 30,000 units at $3.20 on May 10, 68,000 units at $3.40 on August 15; and 20,000 units at $3.70 on November 20. Income taxes are 28%. (a) Prepare comparative condensed income statements for 2022 under FIFO and LIFO. (Round answers to 0 decimal places, e.g. 5,125.) Sheffield Corp. Condensed Income Statements FIFO _ LIFO