Cambi Company began operations on January 1, 2016. In the second quarter of 2017, it adopted the FIFO method of inventory valuation. In the past, it used the LIFO method. The company's interim income statements as originally reported under the LIFO method follow: 2017 lsto 36,000 10,300 5,000 20,700 8,280 2016 2ndO Sales Cost of goods sold (LIFO) Operating expenses Income before income taxes Income taxes (40%) lsto 28,000 5,800 3.800 $18,400 7,360 $11,040 $30,000 6,800 4,000 19,200 7,680 11,520 3rdQ 32,000 7,600 4,400 20,000 8,000 12,000 4tho 34,000 8,800 4,800 20,400 8,160 $12,240 Net income 12,420 If the FIFO method had been used since the company began operations, cost of goods sold in each of the previous quarters would have been as follows: 2016 lsto $5,600 2ndO $6,400 3rdQ $7,000 4thQ $7,800 2017 lsto $9,200 Cost of goods sold (FIFO) Sales for the second quarter of 2017 are $38,000, cost of goods sold under the FIFO method is $10,800, and operating expenses are $5,200. The effective tax rate remains 40 percent. Cambi Company has 1,000 shares of common stock outstanding Prepare a schedule showing the calculation of net income and earnings per share that Cambi reports for the three-month period and the six-month period ended June 30, 2017. (Round "Earnings per share" answers to 2 decimal places.) Three Months Ended June 30 Six Months Ended June 30 2016 2017 2016 2017 Net income Net income per common share