Given below is the 5-year summary of income under LIFO and a schedule of what the inventories would be if stated on the average-cost method.

GROUPER INSTRUMENT COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEARS ENDED MAY 31
		2016			2017			2018			2019			2020
Salesnet		$13,990			$15,520			$16,690			$18,040			$18,920
Cost of goods sold
Beginning inventory		1,000			1,090			1,000			1,100			1,230
Purchases		12,980			13,960			15,080			16,040			16,802
Ending inventory		(1,090)			(1,000)			(1,100)			(1,230)			(1,360)
Total		12,890			14,050			14,980			15,910			16,672
Gross profit		1,100			1,470			1,710			2,130			2,248
Administrative expenses		700			760			820			900			980
Income before taxes		400			710			890			1,230			1,268
Income taxes (50%)		200			355			445			615			634
Net income		200			355			445			615			634
Retained earningsbeginning		1,200			1,400			1,755			2,200			2,815
Retained earningsending		$1,400			$1,755			$2,200			$2,815			$3,449
Earnings per share		$2.00			$3.55			$4.45			$6.15			$6.34

SCHEDULE OF INVENTORY BALANCES USING AVERAGE-COST METHOD FOR THE YEARS ENDED MAY 31
2015		2016		2017		2018		2019		2020
$1,010		$1,120		$1,110		$1,260		$1,490		$1,710

Prepare comparative statements for the 5 years, assuming that Grouper changed its method of inventory pricing to average-cost. Indicate the effects on net income and earnings per share for the years involved. Grouper Instruments started business in 2015. Assume that the number of shares outsanding is 100.