Calgary Industries is preparing a budgeted Income statement for 2018. Predicted sales for the year are $740,000 and cost of goods sold is 40% of sales The expected selling expenses are $82,000 and the expected general and administrative expenses are $91000, which includes $24,000 of depreciation. The company's income tax rate is 30%. The budgeted net income for 2018 is. 581300 427