Allen Moving and Storage prepared the following income statement for 2018:

Revenues: Local $1,433,500 Intra-province 510,000 Inter-province 2,490,500 Containers 333,000 Packing 437,000 Storage 289,000 Total revenues $5,493,000 Less expenses: Outside vehicle repair $ 220,000 Fuel 352,000 Sales commissions 102,000 Tires, oil, lube 20,500 Wages (driver and helper) 1,584,000Internal maintenance 293,000 Advertising 88,000 Equipment rental 422,000 Packing materials 557,000 Salaries 821,000 Cargo loss claims 234,000 Utilities 16,700 Insurance 44,000 Fuel taxes and tariffs 132,000 Bad debt 193,000 Depreciation 205,000 Total expenses 5,284,200 Operating income $ 208,800 Less: Taxes (42%) 87,696 Net income $ 121,104