Galante Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, Kennel budgeted for 5,000 tenant-days, but its actual level of activity was 5,020 tenant-days. Kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May:

Data used in budgeting:

	Fixed element per month	Variable element per tenant-day
Revenue		$31.50
Wages and salaries	$4,000	$7.50
Food and supplies	600	12.30
Facility expenses	9,000	4.50
Administrative expenses	8,800	0.30
Total expenses	$22,400	$24.60

Actual results for May:

Revenue	$108,780
Wages and salaries	$23,600
Food and supplies	$36,800
Facility expenses	$19,350
Administrative expenses	$9,160

The net operating income in the flexible budget for May would be closest to:

$12,238

$19,870

$19,776

$12,100