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In: Accounting1. Complete comparative income statements forthe month of January for Laker Company for the four...1. Complete comparative income statements forthe month of January for Laker Company for the four inventorymethods. Assume expenses are $1,400, and that the applicable incometax rate is 40%. (Round your Intermediate calculations to 2decimal places.)[The following information applies to the questionsdisplayed below.]Laker Company reported the following January purchases and salesdata for its only product.DateActivitiesUnits Acquired at CostUnits sold at RetailJan.1Beginninginventory155units@$8.00=$1,240Jan.10Sales115units@$17.00Jan.20Purchase90units@$7.00=630Jan.25Sales95units@$17.00Jan.30Purchase210units@$6.50=1,365Totals455units$3,235210unitsThe Company uses a perpetual inventory system. For specificidentification, ending inventory consists of 245 units, where 210are from the January 30 purchase, 5 are from the January 20purchase, and 30 are from beginning inventory.