Assume a merchandising company provides the following information from its master budget for the month of May, Sales Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses $ 220,000 $ 80,000 $ 75,000 $ 35,000 $ 28,000 What is the budgeted net operating income? Multiple Choice $2,000 154 $30,000 O $117.000 $105.000