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 (6) Revenue ($390.000) 300 s 117,000 50,900 Expenses: Wages and salaries ($11.900 - $130.00) Supplies ($3.000) Equipment rental ($2,500 - $26.000) Insurance ($3,900) Miscellaneous ($520 + $1.460) 900 10,300 3,900 958 66,958 Total expense Net operating Income $ 50,042 Required: During May, the company's activity was actually 290 diving-hours. Complete the following flexible budget for that level of activity. Puget Sound Divers Flexible Budget For the Month Ended May 31 Revenue Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense Net operating income