The following information is from August Corp. for the 12 months ended December 31, 2020. Account Sales revenue 2020 $2,700,000 Cost of goods sold 1,750,000 Selling and administrative expenses 525,000 Interest expense 17,500 Gain on sale of short-term investments 30,800 Tax rate 25% What is August's net income for 2020? $280,625 $328,725 $403,725 $438,300