Required information 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 Acquired at Coats 165 units $9.00 $1,485 Units sold at Retail 125 units @ $18.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 110 unitse $8.00- 880 125 units @ $18.00 230 units@ $7.50 - 505 units 1,725 $4,090 250 units The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 255 units, where 230 are from the January 30 purchase, 5 are from the January 20 purchase, and 20 are from beginning inventory. Exercise 5-4 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 $1,500 and that the applicable income tax rate is 40%. (Round your intermediate calculations to 2 decimal places.)