Plasencia Corporation is a manufacturer that uses job$-$order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year:

Beginning inventories:

Finished goods $ $33,000$

Estimated total manufacturing overhead at the beginning of the year $ $635,500$

Estimated direct labor$-$hours at the beginning of the year $41,000$ direct labor$-$hours

Results of operations:

Actual direct labor$-$hours $42,000$ direct labor$-$hours

Manufacturing overhead:

Indirect labor cost $ $177,000$

Other manufacturing overhead costs incurred $ $444,000$

Selling and administrative:

Selling and administrative salaries $ $280,000$

Other selling and administrative expenses $ $310,000$

Cost of goods manufactured $ $1,501,000$

Sales revenue $ $2,704,000$

Cost of goods sold $($unadjusted$)$ $ $1,416,000$

The net operating income is