Ac9-h5Y Company applies overhead costs to product s using a pre-determined rate of 140% of direct labor cost. Ac9-h5Y Company reported finished goods inventory equal t o $22,500 at January 1, 2038 and reported finished goods in ventory of $43,300 at December 31, 2038. Ac9-h5Y Company's accounting records indicated th e following costs had been incurred during 2038: $2 $2 $6 $1 $2 Depreciation, factory equipment 0,800 Utilities 5,500 Sales commissions 5, 100 Indirect materials 2,200 Depreciation, office equipment 3,500 Rent, factory building 0,600 Direct labor 0,000 Advertising 1,700 Production supervisor's salary 2,400 $3 $9 $5 $6 The following additional information is available for Ac9-h5Y Company: 1) 60% of the utilities relate to the factory an d 40% of the utilities relate to the office building 2) Sales revenue for 2038 amounted to $567,800 3) 500 Cost of goods manufactured for 2038 was $352, Calculate Ac9-h5Y Company's net income for 2038