(LCNRVValuation Account) Presented below is information related to Webby Inc. Inventory at cost $21.500 Inventory at the LCNRV 20.000 Purchases for the month Sales for the mouth Fch 28 $23.000 20,500 49,000 Mar 31 $19,010 16,500 43,000 Apr 30 $24,000 23.100 $1,000 71.000 76,000 Instructions (w) From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost, the gain or loss due to market fluctuations is to be shown separately(using a valuation account). - Prepare the journal entry required to establish the valuation account at January 31 and entries to adjust it monthly thereafter