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 $91,000, which includes $24,000 of depreciation. The company's income tax rate is 30%. The budgeted net income for 2018 is: Multiple Choice o o $271000. o o o