Paducah Pierogi Company is preparing its Budgeted Income Statement for next year. Paducah Pierogi has collected the following information pertaining to this statement: Sales for next year total $700,000, Selling and Administrative Expenses for the year are $82,000, and Cost of Goods Sold for next year are $200,000. What is Paducah Pierogi's Net Income or Net Loss? Net Loss of $502,000 Net Loss of $248,000 Net Income of $728,000 Net Income of $418,000