have been as follows: Sales for the second quarter of 2020 are $42.000, cost of goods sold under the FIFO method is $11,200, and operating expenses are $5,600. The effective tax rate remains 25 percent. Volata Company has 1,000 shares of common stock outstanding. Prepare a schedule showing the calculation of net income and earnings per share that Volata reports for the three-month period and the six-month period ended June 30,2020 . (Round "Earnings per share" answers to 2 decimal places.)