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, 2014, under the weighted-average and FIFO inventory costing methods assuming periodic system is used. Include a complete statement heading.