ABC Company employs a periodic inventory system and sells its inventory to customers for $14 per unit. Purchases and sales of inventory during the month of July are shown below: Purchases During July July 6: July 14: 2,600 units @ $9.50 700 units @ $4.80 July 22: 1,500 units @ $5.60 July 28: 2,100 units @ $11.30 Sales During July July 11: 2,100 units 1,200 units July 16: July 23: 2,800 units. July 30: 1,000 units Beginning inventory was 1,900 units at a cost of $6.30 each. During July, ABC Company reported operating expenses of $5,400 and had an income tax rate of 36%. Calculate the amount of net income reported on ABC Company's income statement for July using the LIFO method.