Post-Lecture Questions x Net income is comprised of revenues less expenses as follows: Sales revenue 15115200 Cost of goods sold: Beginning inventory $14000 Purchases 75600 Less ending inventory 0110001 Gross pro 36600 Operating expenses 30200 Income before anes 5900 Income taxes expense (30455900) 1220 Meet income $4130 76500 Concord, Inc. provided the following budgeted information for March throughly March April Hay June July Projected sales 5104900 5123400 5115200 5132400 $141100 Projected merchandise purchases 581900 592500 575600566400572900 Inventory at end of month $12100 514000 511000 512900 514200 Concord estimates that it will collect 20% of its sales in the month of sale and in the month after the sale General operating expenses are budgeted to be $30700 per month of which depreciation is $3200 of this amount. Concord prys operating expenses in the month incurred The income tax rates 30% How much is togeted net income for May? O 57900 15900 $5990 54130