Tiny's Toys has the following financial information for the month of July available: Revenues Beginning Materials Inventory Ending Materials Inventory Beginning Work-in-Process Inventory Ending Work-in-Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Purchase of Materials Direct Labor $300,000 20,000 30,000 15,000 17,000 14,000 13,000 115,000 27,000 Manufacturing Overhead 33,000 Selling and Administrative Expenses 50,000 Based on the above, what is the net income for July?