Brownsville Novelty Store prepared the following budget information for the month of May: Sales are budgeted at $360,000. All sales are on account and a provision for bad debts is made monthly at three percent of sales. Inventory was $84,000 on April 30 and an increase of $12,000 is planned for May 31. All inventory is marked to sell at cost plus fifty percent. Estimated cash disbursements for selling and administrative expenses for the month are $48,000. Depreciation for May is projected at $6,000. Budgeted Net Income for May is: Question 15 options: $72,000 $66,000 $55,200 $61,200 $43,200