Paulis 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 February, the kennel budgeted for 5.200 tenant-days, but its actual level of activity was 5,220 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for February Data used in budgeting: Fixed element per month Variable element per tenant-day $31.70 Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses Total expenses $ 4,200 800 8,600 7,600 $21,200 $ 7.70 12.50 4.70 0.50 $25.40 Actual results for February Revenue Wages and salaries Food and supplies Facility expenses Administrative expenses $ 108,980 $ 23,620 $ 36,802 $ 19, 370 $ 9,164 The net operating income in the flexible budget for February would be closest to: Multiple Choice $20,024 O $19,930 $11.686 O D $11.560