Hathaway Inc. produces and sells golf umbrellas to local resorts. Hathaway anticipates April to be a busy month with the sale of 2,000 umbrellas. Each umbrella sells for $30 and has variable costs as follows: direct materials $3 per umbrella, direct labor $4 per umbrella and overhead of $1.25 per umbrella. The company has prepared the following static budget for April 2,000 umbrellas $60,000 Sales revenue Variable costs: Direct materials Direct labor Variable Overhead 6,000 8,000 2.500 $43,500 6,000 Fixed costs Net operating income 31,500 During April, Hathaway actually produced and sold 2,450 umbrellas. What should be Hathaway's net operating income in April based on a flexible budget