The following static budget is provided: 25,000 Units $300,000 Units Sales Less variable costs: Manufacturing costs Selling and administrative costs Contribution margin Less fixed costs: Manufacturing costs Selling and administrative costs Net income $ 87,500 $ 47,500 $165,000 $ 40,000 $ 38,750 $ 86,250 What will budgeted net income equal if 23,000 units are produced and sold? (Do not round intermediate calculations.)