Volata Company began operations on January 1, 2019. In the second quarter of 2020, 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: Sales Cost of goods sold (LIFO) Operating expenses Income before income taxes Income taxes (25%) Net income 1stQ $ 27,000 5,700 3,700 $ 17,600 4,400 $ 13, 200 2019 2ndQ 3rd $ 29,000 $31,000 6,700 7,500 3,900 4,300 $ 18,400 $ 19, 200 4,600 4,800 $ 13, 800 $ 14,400 4th $ 33,000 8,700 4,700 $ 19,600 4,900 $ 14,700 2020 1st $ 35,000 10,200 4,900 $ 19,900 4,975 $ 14,925 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 $6,300 $6,900 1st $5,500 Cost of goods sold (FIFO) 2020 1st $9,100 4th $7,700 Sales for the second quarter of 2020 are $37,000, cost of goods sold under the FIFO method is $10,700, and operating expenses are $5,100. 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.)