Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company's planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (9) 250 $107,500 Revenue ($430.009) Expenses: Wages and salaries ($11,400 + $122.009) Supplies ($5.009) Equipment rental ($2,000 + $23.009) Insurance ($4,200) Miscellaneous ($550 + $1.489) Total expense Net operating income 41,900 1,250 7,750 4,200 920 56,020 $ 51,480 During May, the company's actual activity was 240 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.) Puget Sound Divers Flexible Budget For the Month Ended May 31 Actual diving-hours 240 Revenue $ 103,200 Expenses: Wages and salaries Supplies Equipment rental Insurance Miscellaneous Total expense 0 Net operating income $ 103,200