Given the data for Advanced Company, and knowing that the product sells for $51 per unit and that the operating expenses are $360,000, 

Advanced Company reports the following information for the current year. All beginning inventory amounts equalled $0 this year.

Units produced this year	45,000 units
units sold this year	27,000 units
Direct materials	$5.75 per unit
Direct labour	$6.75 per unit
Variable Overhead	$168,750 total
Fixed overhead	$258,750 total

Calculate the net income based on variable cost.