During 2029, ABC Company reported sales revenue of $460,000 and a cost of goods manufactured of $210,800. The pre-determined overhead rate ABC Company uses to apply overhead costs to products is 180% of direct labor cost. ABC's accounting records for 2029 indicated the following costs had been incurred: Sales commissions ........................ $32,200 Direct labor ............................. $50,000 Depreciation, office equipment ........... $12,700 Production supervisor's salary ........... $52,200 Indirect materials ....................... $22,300 Rent, factory building ................... $22,700 Insurance ................................ $46,100 Advertising .............................. $34,300 Depreciation, factory equipment .......... $18,600 75% of the insurance relate to the factory and 25% of the insurance relate to the office building. ABC Company had the following inventory information for 2029: January 1, 2029 December 31, 2029 Finished goods $67,000 $49,000 Calculate the amount of net income reported in H6c-p8W Company's 2029 income statement.