Assume the following information for a merchandising company:

Number of units sold		20,000
Selling price per unit	$	30
Variable selling expense per unit	$	3.3
Variable administrative expense per unit	$	2.8
Fixed selling expenses	$	30,000
Fixed administrative expenses	$	50,000
Beginning merchandise inventory	$	24,000
Ending merchandise inventory	$	19,000
Merchandise purchases	$	340,000

What is the net operating income?