Botch Corp. sold 5500 units of its product at $45 per unit in year 2011 and incurred operating expenses of $6 per unit in selling the units. It began the year with 600 units in inventory and made successive purchases of its product as follows.Jan. 1 Beginning inventory 600 units @ $18 per unitFeb. 20 Purchase 1500 units @ $19 per unitMay 16 Purchase 700 units @ $20 per unitOct. 3 Purchase 400 units @ $21 per unitDec. 11 Purchase 3300 units @ $22 per unitTotal 6500 unitsRequired:1. Prepare comparative income statements for the three inventory costing methods of FIFO LIFO and weighted average which includes detailed cost of goods sold section as part of each statement. The company uses a periodic inventory system and its income tax rate is 30%