ABC Company employs periodic inventory system and sells its inventory to customers for $23 per unit. ABC Company had the following inventory information available for the month of May: May 1 Beginning inventory 1,500 units @ $12 cost per unit May 8 Sold 1,100 units Purchased 1,700 units@ $21 cost per unit May 13 May 18 Sold 1,000 units Purchased 1,600 units @ $18 cost per unit May 21 May 28 Sold 800 units May 30 Purchased 1,200 units @ $20 cost per unit During May, ABC Company reported operating expenses of $5,000 and had an income tax rate of 36%. Calculate the amount of net income reported on ABC Company's income statement for May using the LIFO method