Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.

Units produced this year		32,000	units
Units sold this year		19,200	units
Direct materials	$	16	per unit
Direct labor	$	18	per unit
Variable overhead	$	3	per unit
Fixed overhead	$	160,000	in total

Given Advanced Company's data, and the knowledge that the product is sold for $63 per unit and operating expenses are $270,000, compute the net income under absorption costing.