University Copy Centre Ltd. uses laser printers. The company started the year with 100 containers of ink (weighted-average cost of \(\$ 9.20\) each, FIFO cost of \(\$ 9\) each). During the year, University Copy Centre purchased 700 containers of ink at \(\$ 10\) each and sold 600 units for \(\$ 20\) each. The company paid operating expenses throughout the year, to a total of \(\$ 3,000\). University Copy Centre is not subject to income tax. Prepare University Copy Centre Ltd.'s income statement for the year ended December 31, 2020, under the weighted-average and FIFO inventory costing methods assuming periodic system is used. Include a complete statement heading,