Everspring, Inc. has the following data for 2020. Raw Materials Work in Process Finished Goods Beginning Balance $30,000 $75,000 $210,000 Ending Balance $130,000 $225,000 Actual overhead $150,000 Cost of goods manufactured $215,000 Direct labor hours used (each employee paid the same wage) 2,000 Gross profit rate 60% Operating expenses $92,000 Raw materials purchased $70,000 Raw materials used ($35,000 direct, $15,000 indirect) $50,000 Over-applied overhead $20,000 Additional facts: 1. Each direct labor employee is paid the same wage. 2. Everspring allocates overhead based on the usage of direct labor hours, estimated and actual direct labor hours were the same. 3. Any over/under-applied overhead is closed directly to Cost of Goods Sold. What net income would be reported on the income statement for the year? Numeric Response