Watson Print Supplies, Inc., sells laser printers and supplies. Assume Watson started the year with 90 containers of ink (average cost of $9.30 each, FIFO cost of $8.70 each, LIFO cost of $7.90 each). During the year, the company purchased 720 containers of ink at $10.20 and sold 570 units for $21.50 each. Watson paid operating expenses throughout the year, a total of $3,775. Ignore income taxes for this exercise. Prepare Watson's income statement for the current year ended December 31 using the average-cost, FIFO, and LIFO inventory costing methods. Include a complete statement heading. Complete the income statement by selecting the appropriate heading and income statement labels, and then calculating the amounts for each of the three required inventory methods. (Calculate unit costs to the nearest cent. Round all other calculations to the nearest whole dollar.) Watson Print Supplies, Inc. Income Statement Year Ended December 31 Average Cost Sales revenue 12255 FIFO LIFO 12255 12255 Cost of goods sold Gross profit Operating expenses 3775 3775 3775 Net income