Carner Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow:
Sales are budgeted at $370,000 for November, $360,000 for December, and $340,000 for January.
The cost of goods sold is 70% of sales.
Carner's uncollectible accounts are 2% of sales.
Other monthly expenses to be paid in cash are $24,600.
Monthly depreciation is $17,000.
Ignore taxes.
 RequiredCalculate the net income for December. Show your work.