Week 5: Quiz Help 6 Assume a merchandising company provides the following information from its master budget for the month of May Sales $ 224,000 Cost of goods sold $ 78, 500 4 Cash paid for merchandise purchases $ 73, 500 points Selling and administrative expenses $ 33, 500 Cash paid for selling and administrative expenses $ 32,800 What is the budgeted net operating income? Multiple Choice O $5,700 O $38,500 O $127,700