The board of directors of Oksana Corporation is considering whether or not it should instruct the accounting department to shift from a first-in, first-out (FIFO) basis of pricing inventories to a last-in, first-out (LIFO) basis. The following information is available.

Complete the condensed income statement for the year on both bases for comparative purposes.

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Sales Inventory. January 1 Purchases 21,000 units S63 6.000 units 25 6,000 units a 28 10,000 units 32 Inventory, December 31 Operating expenses 7.000 units 38 8.000 units ? $253,200