Calgary Industries is preparing a budgeted Income statement for 2018. Predicted sales for the year are $715,000 and cost of goods sold is 40% of sales. The expected selling expenses are $79.500 and the expected general and administrative expenses are $88,500, which includes $21.500 of depreciation. The company's Income tax rate is 30%. The budgeted net income for 2018 is: Multiple Choice 5429.000 S85.400 $78.500. $182700 $261.000