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

Variable administrative expense per unit $ 2

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?