Required information [The following information applies to the questions displayed below.] Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 28,000 units 16,800 units $ 12 per unit $ 14 per unit $ 3 per unit $140,000 in total Given Advanced Company's data, and the knowledge that the product is sold for $59 per unit and operating expenses are $230,000, compute the net income under absorption costing