Determine the net income for the first year. (Round to the nearest $1.00)

QUESTION 4 10 points Save Answer Numero Uno Company reports the following information for the current year (see table), which is its first year of operations. Assume Numero Uno uses absorption costing to prepare its financial statements. Revenues: 10,000 units @ $30.00 per unit Operating Expenses: Variable Selling and Administrative costs: $2.50 per unit sola Fixed Selling and Administrative costs: $114,000 annually Manufacturing Costs based on production of 11,000 units: Variable costs: $4.50 per unit Fixed costs: $9.00 per unit Inventories: Beginning Ending Work in Process 0 units 0 units Finished Goods 0 units 1,000 units Determine the net income for the first year. (Round to the nearest $1.00) QUESTIONS 10 points Save Answer Mum