The IS-37277 company reports the following information for last year: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,600 $ 5,300 $ 80,000 Ending $ 10,500 $ 20,700 $ 25,108 $ 659,000 $ 86,000 $ 134,000 $ 105,000 $ 45,000 $221,000 $ 200,000 The company closes out any underapplied or overapplied overhead to Cost of Goods Sold. What was the IS-37277 company's net operating income for last year? $51,400 $75,400 $ 30,400 $ 68,000 > Help Save a