ABC Company employs a periodic inventory system and sells its inventory to customers for $29 per unit. ABC Company had the following inventory information available for the month of May: May 1 May 8 May 13 May 18 May 21 May 28 May 30 Beginning inventory 2,400 units @ $14 cost per unit Sold 1,100 units Purchased 1,400 units @ $11 cost per unit Sold 1,200 units Purchased 800 units @ $19 cost per unit Sold 500 units Purchased 1,700 units @ $10 cost per unit During May, ABC Company had operating expenses of $15,490 and had an income tax rate of 43%. Calculate the amount of net income shown on ABC Company's income statement for May using the LIFO method