Knapper Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During January, the kennel budgeted for 2,700 tenant-days, but its actual level of activity was 2,740 tenant-days. The kennel has provided the following data concerning the formulas to be used in its budgeting: 
The net operating income in the flexible budget for January would be closest to:
Definitions:
Accrued Expense
Expenses that have been incurred but not yet paid for, typically recorded through adjusting journal entries.
Stockholders' Equity
The remaining value of a company's assets after all debts are paid off, which reflects the shareholders' stake in the corporation.
Assets
Resources owned or controlled by a company that are expected to produce future economic benefits.
Net Income
The remaining profit of a company after expenses and taxes are taken out of its revenue.
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