Question 18 of 50 < > View Policies -/5 Current Attempt in Progress Sheridan Company has sales of $1,552,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses. Variable Fixed Product costs $507,000 $557,000 Selling expenses 107,000 82,000 Administrative expenses 87,000 74,000 Calculate the company's net income under CVP for 2022. Net Income $