7 Bestilo Corporation is a cat wholecaler of gourmet food produsDia tegarding the stores operation Solo, Sales websted a $240.000 for November $220.000 for December and $210.000 for January Collectors are expected to be in the month of sale and in the morning the The cost of goods sold is 70% of the The company would be to maintain rang merchandise inventore qual to os of the rest mon cost of goods. Payment for merchandises made in the month fofowing the purchat Other monthly expenses to be paid in cash or $22.000 . Morty deprecaonis $54.000 Ignor $ 22,200 72,200 100, 1,02,200 Balance sheet October 31 Assets ch Accounts receivable Merchandise Inventory Property, plant and equipoet, het of 5574,200 cmulated depreciation Total sets Libilities and stockholders fouity Accounts payat Common stock detained earnings Total intities and stockholders gutty 5256,000 22,200 217,000 The cost of December recharose Chat would Bramble Corporation is a small wholesaler of gourmet food products Data regarding the store's operations Follow Sales are budgeted at $240,000 for November, $220,000 for December, and $210.000 for January Collections are expected to be 65% in the month of sale and in the month following the sale The cost of goods sold is 70% of sales The company would like to maintain ending merchandise inventores equal to 60% of the next month's cost of goods sold Payment for merchandises made in the mot following the purchase Other monthly expenses to be paid in cash are $23.000 Monthly depreciation is $14.000 ignore takes $ 22,200 72,200 100,000 1,03,200 $ 1.291,400 Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,200 accumulated depreciation Total assets Liabilities and stockholders' Equity Accounts payable Comon stock Retained earnings Total liabilities and stockholders' equity 5 255,200 822,200 213.000 $1,291,400 The cost of December merchandise purchases would be