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. . . . The following information pertains to the January operating budget for Casey Corporation. Budgeted sales for January $207,000 and February $100,000. Collections for sales are 40% in the month of sale and 60% the next month. Gross margin is 30% of sales. Administrative costs are $16,000 each month. Beginning accounts receivable is $25,000. Beginning inventory is $19,000. Beginning accounts payable is $68,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 25% of next month's cost of goods sold (COGS). For January, budgeted net income is . O A. $46,100 B. $66,800 OC. $108,200 OD. $62.100