Assume a merchandising company provides the following information from its master budget for the month of May: Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses. Retained earnings, May 1 Retained earnings, May 31 $ 78,200 $ 73,300 $ 33,200. $ 26,300 $ 18,300 $ 23,600 If the company does not pay any interest or dividends, what is its budgeted sales for May? Multiple Choice $115,000 $102,800 $1,600 $116,700