ABC Company employs a periodic inventory system and sells its inventory to customers for $17 per unit. ABC Company had the following inventory information available for the month of May:

May 1 Beginning inventory 180 units @ $7.00 cost per unit

May 3 Purchased 260 units @ $6.20 cost per unit

May 8 Sold 145 units

May 13 Purchased 160 units @ $4.70 cost per unit

May 18 Sold 180 units

May 24 Sold 175 units

May 30 Purchased 200 units @ $6.60 cost per unit

During May, ABC Company reported operating expenses of $2,000 and had an income tax rate of 35%.

Calculate the amount of net income reported on ABC Company's income statement for May using the LIFO method.