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Presented below is information related to Bramble Enterprises.

$($a$)$ From the information, prepare $($as far as the data permit$)$ monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost; the gain or loss due to market fluctuations is to be shown separately $($using a valuation account$).($Enter negative amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$

$($b$)$ Prepare the journal entry required to establish the valuation account at January $31$ and entries to adjust it monthly thereafter