James Diesel owns the Fredonia Barber Shop. He employs 4 barbers and pays each a base salary of $1,200 per month. One of the barbers serves as the manager and receives an extra $500 per month. In addition to the base salary, each barber also receives a commission of $4.60 per haircut. Other costs are as follows.

Advertising		$200	per month
Rent		$900	per month
Barber supplies		$0.30	per haircut
Utilities		$150	per month plus $0.10 per haircut
Magazines		$15	per month

James currently charges $10.00 per haircut.

Determine net income, assuming 1,500 haircuts are given in a month.