512 The income statement and balance sheet for Meridian Corporation at December 31 are shown below. Dollar amounts are in 5 millions, 2020 2019 2018 2020 2019 Cash $ 350 $ 56 $ 43 Sales $ 2,021 $ 1,708 Marketable securities 0 465 387 Cost of goods sold 942 846 Accounts receivables 26 7 10 Gross profit $ 1,079 $ 862 Inventories 248 201 169 Seling, general & admin 562 386 Prepayments 28 24 20 EBITDA 476 Total current assets $ 652 $ 753 $ 629 Depreciation expense 106 29 Property, plant & equip, net 1.568 1.343 1172 EBIT 411 386 Total assets $2,220 $2,096 $ 1,802 Interest expense Pretax income 353 336 Accounts payable $ 84 $ 58 $ 79 Tax expense 137 131 Short-term borrowing 54 33 0 Net inome $ 216 $ 205 Other current liabilities 96 144 193 Total current liabilities $ 234 $ 231 $ 272 Long-term debt 750 713 632 Other non-current liabilities 85 214 165 Total liabilities $ 1,069 $ 1,158 $ 1,069 Common stock 141 141 Retained earnings 1.013 297 592 Total shareholders' equity 513151 $ 938 $ 733 Total liab & stkhidrs' eq $2,220 $ 2,096 $1,802 If the managers expect sales to increase by 8% per year and the company's net profit margin to be 11%, then what is the company's expected net income for the year ending December 31, 2023? O as 221.1 million b.$ 260.4 million C$ 280.0 million O d. 5 302.5 million es 326.6 million