company reports the following information for last year: $ 652,000 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Ending Beginning $ 8,000 $ 10,100 $ 6,000 $ 20,900 $ 70,000 $ 25,800 $ 87,000 $ 135,000 $ 104,000 $ 43,000 $ 227,000 $ 202,000 Finished goods The company closes out any underapplied or overapplied overhead to Cost of Goods Sold. What was the IS- a's net operating income for last year? $ 53,800 $ 56,000 $ 71,800 $ 28,800