Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):

  Sales $ 23,000    

  Variable expenses 13,000    

  Contribution margin 10,000    

  Fixed expenses 8,500    

  Net operating income $ 1,500    

Required:

If the selling price increases by $1.50 per unit and the sales volume decreases by 100 units, what would be the net operating income? (Do not round intermediate calculations.)