Assume a merchandising company provides the following information from its master budget for the month of May. Cost of goods sold $ 79,000 Cash paid for merchandise purchases $ 74,100 Selling and administrative expenses $ 34,000 Cash paid for selling and administrative expenses $ 26,800 Retained earnings, May 1 $ 19, 100 Retained earnings, May 31 $ 25, 200 If the company does not pay any interest or dividends, what is its budgeted sales for May? Multiple Choice $1,100 $119,100 $1,100 $119,100 $115.300 $102,000