9 Assume a merchandising company provides the followmg information from its master budget for the month of May. Sales $ 134,069 Cash paid for merchandise purchases $ 88,069 4 Selling and administrative expenses $ 28,069 points Accounts payable, May 15": $ 21,599 Accounts payable, May 315t $ 29,999 If the company maintains no beginning or ending merchandise inventory and makes all of its inventory purchases on account, what is the budgeted net operating income for May? Multiple Choice 0 $39500 $29,000 $10,500 0 0 $21,200 0