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 $ $29,000$ $ $31,000$ $ $33,000$ $ $35,000$ $ $37,000$

Cost of goods sold $($LIFO$)5,9006,9007,7008,90010,400$

Operating expenses $3,9004,1004,5004,9005,100$

Income before income taxes $ $19,200$ $ $20,000$ $ $20,800$ $ $21,200$ $ $21,500$

Income taxes $(25\%)4,8005,0005,2005,3005,375$

Net income $ $14,400$ $ $15,000$ $ $15,600$ $ $15,900$ $ $16,125$

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$)$ $ $5,700$ $ $6,500$ $ $7,100$ $ $7,900$ $ $9,300$

Sales for the second quarter of $2024$ are $$39,000,$ cost of goods sold under the FIFO method is $$10,900,$ and operating expenses are $$5,300.$ 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 $2024.$

Note: Round "Earnings per share" answers to $2$ decimal places.