28) 28) Carver Lumber sells lumber and general building supplies to building contractors n a medium-sized town in Montana, Data regarding the store's operations follow: Sales are budgeted at $350,000 for November, $320,000 for December, and $300,000 for January. Collections are expected to be 90% in the month of sale and 10% in the month following the sale. The cost of goods sold is 75% of sales. The company desires to have an ending merchandise inventory equal to 60% of the following 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 $24,700. Monthly depreciation is $16,000. Ignore taxes. Balance Sheet October 31 Assets 19,000 Cash 77,000 157,500 Accounts receivable Inventory Property, plant and equipment, net of $502,000 accumulated depreciation 1,002,000 $ 1.255.500 Total assets Liabilities and Stockholders' Equity Accounts payable %24 272,000 780,000 Common stock Retained earnings Total liabilities and stockholders' equity 203,500 $ 1.255,500 Accounts payable at the end of December would be: B) $231,000 A) $135,000 C) $96,000 D) $240,000 accenti