Blossom, LLC is a small company that sells decorative picture frames from local artisans. John, the chief financial officer (CFO), is in the process of compiling a Budgeted Income Statement for 2024 so that the company can apply for a loan at the local bank. John has budgeted for sales of 6.000 mugs at a sales price of $15.00 per mug. The company originally paid $2.00 per mug when it acquired them. The company has selling. general & admin (SGEA) expenses of $46,000 and an existing loan of $7,000 with an annual percentage rate (APR) of 3.0% The tax rate is a flat 21% What is the amount of net income that the company will report on the budgeted income statement for 2024 ? (Round answers to 0 decimal places, e. \$. 1,525.)