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Jonah Copy Center sells laser printers and supplies. Assume Jonah Copy Center started the year...

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Jonah Copy Center sells laser printers and supplies. Assume Jonah Copy Center started the year with 100 containers of ink (average cost of $0.10 each, FIFO cost of $8.40 cach, LIFO cost of $7.90 each). During the year, Jonah Copy Center purchased 800 containers of ink at $1000 and sold 590 units for $20.00 each. Jonah Copy Center paid operating expenses throughout the year, a total of $4,000. Ignore income taxes for this exercise Prepare Jonah Copy Center's income statement for the current year ended December 31 under the average, FIFO, and LIFO inventory costing methods. Include a complete statement heading nearest cont. Round all other calculations to the nearest whole dollar.) Jonah Copy Center Income Statement Year Ended December 31 Average Cost FIFO Sales revenue $ 11,800 11800 Cost of goods sold 5,841 Gross profit $ 5,950 Operating exper Net income

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