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Assume a merchandising company provides the following information from its master budget for the month of May: Sales $ 236,000 Cost of goods sold $

Assume a merchandising company provides the following information from its master budget for the month of May:

Sales $ 236,000
Cost of goods sold $ 81,500
Cash paid for merchandise purchases $ 76,500
Selling and administrative expenses $ 36,500
Cash paid for selling and administrative expenses $ 36,400

What is the budgeted net operating income?

Multiple Choice

  • $5,100

  • $41,500

  • $133,100

  • $118,000

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