Month May June Sales 200,000 210,000 Cost of Goods Sold (CGS) 65% Variable Cost (VC) 20% Monthly Fixec Costs (FC) 12,000 Depreciation included in FC 4,000 Inventory, ending 40% of next month CGS Beginning Inventory 52,000. Wat is net income for May?

1.between $17,500 and $ 18,500

2.between $18,500 and 19,500

3.between $21,500 and $22,500

4.between $24,500 and $25,500