Volata Company began operations on January 1, 2019. In the second quarter of 2020. t 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: Sales Cost of goods sold (LIFO) Operating expenses Income before income taxes Income taxes (25%) Net income Ista $ 16,000 4,609 2,660 $ 8,800 2,200 $ 6.609 2019 2nd 3rdo $ 18,000 $ 20,000 5,600 6,400 2,860 3,209 $ 9,600 $ 10,400 2,400 2,600 $ 7,200 $ 7.800 Atho $ 22,000 7,669 3,609 $ 10,809 2.700 $8.100 2020 sto $ 24, 9,100 3,800 511,199 2,775 $ 8,325 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: 2019 2nd 3rd $ 5,200 $ 5,00 1st $4,400 Athe $6,600 2020 15 $18,00 Cost of goods sold (FIFO) Sales for the second quarter of 2020 are $26,000, cost of goods sold under the FIFO method is $9.600 and operating expenses are $4,000. The effective tax rate remains 25 percent Volata Company has 1000 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.) Three Months Ended June 30 2019 2020 Six Months Ended June 30 2019 2020 Not income Not income per common share