QUESTION 23 Partial sales budget information for Sally's Shrimp Company follows: April May June Total Cash sales $50,000 60,000 70,000 180,000 Sales on account 75,000 90,000 105,000 270,000 Total budgeted sales 125,000 150,000 175,000 450,000 If cost of shrimp sold is 70% of sales, what amount is the gross margin for the quarter ? a. $450,000 b. $315,000 c. $135,000 O d. $40,980