Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 400 $192,000 Revenue ($480.009) Expenses : Wages and salaries ($11,200 + $120.00) Supplies ($4.00) Equipment rental ($2,100 + $25.000) Insurance ($4,100) Miscellaneous ($520 + $1.429) Total expense Net operating income 59,200 1,600 12,100 4,100 1,088 78,088 $113,912 During May, the company's actual activity was 390 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours 390 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 $ 0 Net operating income