May an ember component have logic / computed values

I am using latest version of ember (1.13.5), but want to be Ember 2.0 compliant.

I want to create a compnent that has one input parameter and some internal logic to calculate two more values so the component-template has 3 fields that have bindings to variables.

If this was a normal template this would work nicely with a controller. But a component does not have a controller. What is possible with the Ember.Component subclass?

Component defined in \templates\components\my-component.js:

<h1>{{value1}}<h1>
<h2>{{value2}}<h2>
<h3>{{value3}}<h3>

Use in a template:

{{my-component value1=34}}

And then some javascript somewhere to define value2 and value3:

value2 = value1 *3;
value3 = value2 *6;

Where to put this javascript so value2 and value3 are available in my component? (This is just a simple example. The real logic of value2 and value3 is more complicated, but based only on value1.)