Auto Hardware is a retail hardware store. Information about the store's operations follows.

November 2019 sales amounted to Rs.400,000.

Sales are budgeted at Rs.440,000 for December 2019 and Rs.400,000 for January 20x5.

Collections are expected to be 60 percent in the month of sale and 38 percent in the month following the sale. Two percent of sales are expected to be uncollectible. Bad debts expense is recognized monthly.

The store's gross margin is 25 percent of its sales revenue.

A total of 80 percent of the merchandise for resale is purchased in the month prior to the month of sale, and 20 percent is purchased in the month of sale. Payment for merchandise is made in the month following the purchase.

Other monthly expenses paid in cash amount to Rs.45,200.

Annual depreciation is Rs.432,000.

The company's balance sheet as of November 30, 2019, is as follows:

AUTO HARDWARE, INC.

BALANCE SHEET

NOVEMBER 30, 2019

ASSETS

Cash Rs. 44,000

Accounts receivable

(Net of Rs.7,000 allowance for uncollectible accounts) Rs. 152,000

Inventory Rs. 280,000

Property, plant, and equipment

(Net of Rs.1,180,000 accumulated depreciation) Rs. 1,724,000

Total Assets Rs. 2,200,000

LIABILITIES AND OWNER'S EQUITY

Accounts payable Rs. 324,000

Common stock Rs. 1,590,000

Retained earnings Rs. 286,000

Total liabilities and owner's equity Rs.2,200,000

Required: Compute the following amounts.

1. The budgeted cash collections for December 2019.

2. The budgeted income (loss) before income taxes for December 2019.

3. The projected balance in accounts payable on December 31, 2019.