Blind Melon, Inc. has provided the following information for the year. Units Produced 20,000 Units Sold 5,000 Sales Price $40 per unit Direct Materials $7 per unit Direct Labor $2 per unit Variable Factory Overhead $1 per unit Fixed Factory Overhead $80,000 for the period Variable Selling & Administrative Costs $3 per unit Fixed Selling & Administrative Costs $15,000 for the period If Blind Melon uses absorption costing and this is their first year in business, they will show $_____________ net income on their income statement