Bowling Green Financial is preparing its Budgeted Income Statement for next year. Bowling Green Financial has collected the following information about this statement: Sales for next year total $1,200,000, Selling and Administrative Expenses for the year are $560,000, and Cost of Goods Sold for next year are $600,000. What is Bowling Green's Net Income? a.) $600,000 b.) $560,000 c.) $80,000 d.) $40,000