$11$

Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow

Sales are budgeted at $$380,000$ for November, $$400,000$ for December, and $$390,000$ for January

Collections are expected to be $75\%$ in the month of sale and $25\%$ in the month following the sale.

The cost of goods sold is $72\%$ of sales.

The company desires an ending merchandise inventory equal to $85\%$ of the cost of goods sold in the following month.

Payment for merchandise is made in the month following the purchase.

Other monthly expenses to be paid in cash are $$21,000.$

Monthly depreciation is $$20,800.$

Ignore taxes

$\backslash$table$[[\backslash$table$[[$Balance Sheet$],[$October $31]],],[\backslash$table$[[$Assets$],[$Cash$],[$Accounts receivable$],[$Merchandise inventory$],[$Property$,$ plant and equipment $($net of $$608,000$ accumulated depreciation$)]],\backslash$table$[[\backslash$table$[[$$$21,800$