Assume a merchandising company uses the high-low method to separate any mixed costs into their variable and fixed elements. It provided the following income statements: Sales in units Sales Cost of goods sold Gross margin Selling and administrative expenses: Advertising Shipping May June July 4,800 5,000 5,500 $ 168,000 $ 175,000 $ 192,500 86,400 90,000 99,000 81,600 85,000 93,500 17,000 17,000 17,000 16,800 17,500 19,250 29,600 30,000 31,000 63,400 64,500 67,250 $ 18,200 $ 20,500 $ 26,250 Salaries and commissions Total selling and administrative expenses Net operating income What is the estimated net operating income if the company sells 5,280 units? Multiple Choice $20,600