Plum Company is a merchandiser that provides the following information for 20X1: Number of units sold Unit sales price Merchandise purchases Merchandise inventory, Jan. 1. 20X1 Merchandise inventory, Dec 31, 20X1 Variable selling expense per unit Variable administrative expenses per unit Total fixed selling expenses Total fixed administrative expense 8,500 $35 $180,000 $25,000 $28,000 $1.50 $2.00 $15,000 $12,000 Calculate the net operating income that would appear on a contribution format income statement (note: this is the same amount that would appear on a traditional format income statement)