Current Attempt in Progress

Ivanhoe, LLC is a small company that sells decorative picture frames from local artisans. John, the chief financial officer $($CFO$),$ is in the process of compiling a Budgeted Income Statement for $2024$ so that the company can apply for a loan at the local bank. John has budgeted for sales of $6,800$ mugs at a sales price of $$16\mathrm{.}00$ per mug. The company originally paid $$3\mathrm{.}00$ per mug when it acquired them. The company has selling, general & admin $($SG&A$)$ expenses of $$46,900$ and an existing loan of $$7,400$ with an annual percentage rate $($APR$)$ of $4\mathrm{.}0\%.$ The tax rate is a flat $21\%.$

What is the amount of net income that the company will report on the budgeted income statement for $2024?($Round answers to $0$ decimal places, e$.$g$.1,525.)$

Net Income