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 29,000 units 17,400 units 13 per unit 15 per unit $ 87,000 in total $145,000 in total Given Advanced Company's data, and the knowledge that the product is sold for $60 per unit and operating expenses are $240,000, compute the net income under absorption costing