Phoebe Corporation produces a single product. Data from the company's records for last year follow:

Units in beginning inventory	0
Units produced	3,100
Units sold	3,000
Selling price per unit	$126
Variable costs per unit:
Direct materials	$22
Direct labor	$43
Variable manufacturing overhead	$3
Variable selling and administrative	$10
Fixed costs:
Fixed manufacturing overhead	$89,900
Fixed selling and administrative	$42,000

Under variable costing, net operating income would be $__________.

You must show all your calculations.