Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product Units sold at Retail Date Activities Jan. 1 Beginning inventory Jan. 1e Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost 175 units $10.00 - $1,750 130 units $9.00 - 1,170 135 units @ $19.00 140 units $19.00 254 units $8.50 555 units 2,125 $5,045 275 units The Company uses a perpetual inventory system For specific identification, ending inventory consists of 280 units, where 250 are from the January 30 purchase 5 are from the January 20 purchase, and 25 are from beginning inventory Exercise 6-4 Perpetual: Income effects of inventory methods LO A1 ---- Exercise 6-4 Perpetual: Income effects of inventory methods LO A1 Required: 1. Complete comparative income statements for the month of January for Laker Company for the four inventory methods. Assume expenses are $1,600 and that the applicable income tax rate is 40% (Round your Intermediate calculations to 2 decimal places.) LAKER COMPANY Income Statements For Month Ended January 31 Specific Welghted Identification Average FIFO LIFO Sales Cost of goods sold Gross profit Expenses Income before taxes Income tax expense Net Income