The management of Sheridan Company 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. Units purchased consisted of 37,970 units at $4,00 on May 10,58,870 units at $4.20 on August 15 , and 28,360 units at $4.50 on November 20 . Income taxes are 25%. (a) Prepare comparative condensed income statements for 2022 under FIFO and LIFO. (Round answers to 0 decimal places, e.g. 5,125.)