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Tom\'s Fly Fishing Company [TFFC] sells the world\'s best fly fishing equipment.  The company\'s motto is "Superb equipment ensures a successful fly fishing adventure!"

The TFFC began business on January 1, 2009 with the following balance sheet:

Assets                                   Liabilities & Owners\' Equity

Cash                      $10,000 Loan Payable     $40,000

Inventory              40,000                                   

Land                       50,000 Common Stock                   210,000

Building                150,000                                   

Total      $250,000              Total                      $250,000

Expected sales activity during 2009 is forecasted to be:

January-March                      $100,000 per month

April-June                              $200,000 per month

July-September                     $300,000 per month

October-November              $200,000 per month

Variable expenses as a % of sales dollars are estimated to be:

Cost of Goods Sold                               40%

Selling Expenses                                   20%

Administrative Expenses                     10%

Fixed monthly expenses are estimated as:

Administrative      (including loan interest)      $5,000 per month

Depreciation on Building                                     $1,000 per month

The estimated income tax rate is 30%.

What is TFFC\\\'S approximate net income after tax for the month of June 2009?

a)            Approximately $18,000

b)            Approximately $28,000

c)            Approximately $38,000

d)            Approximately $48,000

e)            Answer not determinable from data provided

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