Calgary Industries is preparing a budgeted income statement. Predicted sales for the year are $770,000 and cost of goods sold is 40% of sales. The expected selling expenses are $85,000 and the expected general and administrative expenses are $94,000, which includes $27,000 of depreciation. The company's income tax rate is 30%. Budgeted net income is:

Multiple Choice

$462,000.


$198,100.


$283,000.


$85,500.


$84,900.