Volata Company began operations on January $1,2023.$ In the second quarter of $2024,$ 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:

Accounts $20232024$

$1$st Quarter $2$nd Quarter $3$rd Quarter $4$th Quarter $1$st Quarter

Sales $ $25,000$ $ $27,000$ $ $29,000$ $ $31,000$ $ $33,000$

Cost of goods sold $($LIFO$)5,5006,5007,3008,50010,000$

Operating expenses $3,5003,7004,1004,5004,700$

Income before income taxes $ $16,000$ $ $16,800$ $ $17,600$ $ $18,000$ $ $18,300$

Income taxes $(25\%)4,0004,2004,4004,5004,575$

Net income $ $12,000$ $ $12,600$ $ $13,200$ $ $13,500$ $ $13,725$

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:

Accounts $20232024$

$1$st Quarter $2$nd Quarter $3$rd Quarter $4$th Quarter $1$st Quarter

Cost of goods sold $($FIFO$)$ $ $5,300$ $ $6,100$ $ $6,700$ $ $7,500$ $ $8,900$

Sales for the second quarter of $2024$ are $$35,000,$ cost of goods sold under the FIFO method is $$10,500,$ and operating expenses are $$4,900.$ The effective tax rate remains $25$ percent. Volata Company has $1,000$ shares of common stock outstanding.

Required:

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 $30,2023$ and $2024.$