22) Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $390,000 for November, $370,000 for December, and $360,000 for January Collections are month following the sale The cost of goods sold is 80% of sales. The company would like maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $24,500. Monthly depreciation is $15,500 Ignore taxxes. expected to be 40% in the month of sale and 60% in the Balance Sheet October 31 Assets Cash 20,000 70,000 Accounts receivable Merchandise inventory 153,000 Property, plant and equipment, net of $572,000 accumulated depreciation 1,094,000 1.337,000 Total assets Liabilities and Stockholders' Equity Accounts payable 254,000 S Common stock 820,000 Retained earnings 263,000 S 1.337,000 Total liabilities and stockholders' equity Expected cash collections in December are: A) $370,000 B) $234,000 C) $148,000 D) $382,000