Stewart Condos Corporation is a small company owned by Dennis Hatch. It leases three condos of differing sizes to customers as vacation facilities. Labor costs for each condo consist of maid service and maintenance cost. Other direct operating costs consist of interest and depreciation. The direct operating costs for each condo follow. Condo 1 Condo 2 Condo 3 Total Direct Labor $ 30,000 35,000 45,000 $ 110,000 Other Direct Operating Costs $ 72,000 80,000 88,000 $ 240,000 Indirect operating expenses, which amounted to $96,000, are allocated to the condos in proportion to the amount of other direct operating costs incurred for each. Required a. Assuming that the amount of rent revenue from Condo 2 is $192,000, what amount of income did it earn? Note: Do not round intermediate calculations.

Stewart Condos Corporation is a small company owned by Dennis Hatch. It leases three condos of differing sizes to customers as vacation facilities. Labor costs for each condo consist of maid service and maintenance cost. Other direct operating costs consist of interest and depreciation. The direct operating costs for each condo follow. Indirect operating expenses, which amounted to $96,000, are allocated to the condos in proportion to the amount of other direct operating costs incurred for each. Required a. Assuming that the amount of rent revenue from Condo 2 is $192,000, what amount of income did it earn? Note: Do not round intermediate calculations