Larson Company employs a periodic inventory system and reported the following inventory information for the month of August: August 1 Beginning inventory 2,600 units @ $27 cost per unit August 6 Sold 1,100 units August 15 Purchased 1,400 units @ $36 cost per unit August 18 Sold 1,500 units August 23 Purchased 900 units @ $29 cost per unit August 26 Purchased 600 units @ $23 cost per unit August 29 Sold 2,300 units August 30 Purchased 1,500 units @ $40 cost per unit During August, Larson Company reported operating expenses of $29,000 and had an income tax rate of 39%. Using the weighted average method, Larson Company's gross profit for August totaled $71,050. Calculate the amount of net income reported on Larson Company's income statement for August using the LIFO method.