what is Net operating income under variable costing.

PA15. LO 6.5 Happy Trails has this information for its manufacturing: Its income statement under absorption costing is: \begin{tabular}{|lr|} \hline Sales & $1,900,500 \\ Beginning Inventory & 0 \\ Cost of Goods Manufactured & 1,566,000 \\ Cost of Goods Available for Sale & 1,566,000 \\ - Ending Inventory & 1,102,000464,000 \\ Cost of Goods Sold & 798,500 \\ Gross Profit & 133,000 \\ - Sales and Administration Expenses & 300,000 \\ Variable & 433,000 \\ Fixed & $365,500 \\ \hline Netal Sales and Administration Expenses & \\ \hline \end{tabular}