Greg's Baseball Caps, Inc. has the following budget for the production and sale of 1,000 baseball caps during 2004: Sales Revenue Cost of Goods Sold (variable) Other Expenses (fixed) Assume only 900 caps are sold and Greg uses a flexible budget. Budgeted net income would be: $8,500 5,000 2,500 a. $ 650 b. $ 900 c. $1,000 d. not enough information to determine