JMC Enterprises recorded sales of $160,000 during March. Management expects sales to increase 5% (compared to March) in April, increase 3% (compared to April) in May, and increase 5% (compared to May) in June. Cost of goods sold is expected to be 70% of sales. What is budgeted gross profit for June? O $112.000 O $64,120 O $181,692 O $127.184 $54,508