Top executive officers of Adams Company, a merchandising firm, are preparing the next years budget. The controller has provided everyone with the current years projected income statement. Current Year Sales revenue $ 2,000,000 Cost of goods sold 1,400,000 Gross profit 600,000 Selling & administrative expenses 250,000 Net income $ 350,000 Cost of goods sold is usually 70 percent of sales revenue, and selling and administrative expenses are usually 10 percent of sales plus