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Calculate the Cost of Goods Sold when given the following information: Current Liabilities $340,000 Quick ratio 1.80x Inventory Turnover 5.00x Current ratio 3.30x $4,000,000 $2,040,000 $2,550,000 $4,180,222 Jerry's Steel Company have annual sales of $2,000 and a profit margin of 9%. The firm estimates that sales will increase by 11% next year and costs will have a direct relationship with sales. What is the anticipated Net Income? $180.00 $201.60 This cannot be determined given the information provided. $199.80