The following information is from Hawker Corporation's 2020 income statement. Sales Revenue $1,100,000 Cost of Goods Sold (470,000) Selling and Administrative Expenses (fixed) (50,000) Interest Expense (20.000) Net Income $ 560.000 Hawker's gross profit is expected to increase by 15% and interest expense is expected to decrease by 30% in 2021. Calculate Hawker's budgeted 2021 net income. $725,000 $654,500 $594,000 O $660,500 $495,500