Sund Corporation bases its budgets on the activity measure “customers served”. During April, the company plans to serve 38,000 customers. The company has provided the following data concerning the formulas it uses in its budgeting: Fixed element per month: Revenue (—), Wages & salaries ($25,000), Supplies ($0), Insurance ($6,200) Miscellaneous expense ($2,500) Variable element per month: Revenue ($2.10), Wages & salaries ($0.50), Supplies ($0.30), Insurance ($0.00), Miscellaneous expense ($0.40) Required: Prepare the company’s planning budget for April. What is the net operating income?