Boulder Blowers produces snow blowers. The selling price per snow blower is $100. Costs involved in production are:

Direct material per unit $ 20

Direct labor per unit 11

Variable manufacturing overhead per unit 10

Fixed manufacturing overhead per year 148,500

In addition, the company has fixed selling and administrative costs of $150,000 per year. During the year, Boulder produces 45,000 snow blowers and sells 30,000 snow blowers. There was no beginning inventory. How much is net income using full costing?