Assume a merchandising company provides the following information from its master budget for the month of May: Cash collections from customers $ 115,000 Cost of goods sold $ 80,000 Selling and administrative expenses $ 35,000 Accounts receivable, May 1st $ 15,000 Accounts receivable, May 31st $ 20,000 If all of the companys sales are on account, what is the budgeted net operating income for May? Multiple Choice $5,000 $10,000 $15,000 $20,000