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Assume a merchandising company provides the following information from its master budget for the month of May: Sales $ 139,000 Cash paid for merchandise purchases

Assume a merchandising company provides the following information from its master budget for the month of May: Sales $ 139,000 Cash paid for merchandise purchases $ 93,000 Selling and administrative expenses $ 33,000 Accounts payable, May 1st $ 26,100 Accounts payable, May 31st $ 34,000 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?

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