A business operated at 100% of capacity during its first month and incurred the following costs:
Production costs (5,000 units):
Direct materials $70,000
Direct labor 20,000
Variable factory overhead 10,000
Fixed factory overhead 2,000 $102,000
Operating expenses:
Variable operating expenses $17,000
Fixed operating expenses 1,000 18,000
If 1,000 units remain unsold at the end of the month and sales total $150,000 for the month, what would be the amount of income from operations reported on the absorption costing income statement?