A Corporation, a merchandising firm, has budgeted its activity for December according to the following information - Sales at \$460,000, all for cash. - Merchandise inventory on November 30 was $205,000 - The cash balance at December 1 was $19,000. - Seling and administrative expenses are budgeted at $63,000 for December and are paid in cash. - Budgeted depreclation for December is $27,000. - The planned merchandise inventory on December 31 is $235,000. - The cost of goods sold is 70% of the sales price. - All purchases ate pald for in cash. - There is no interest expense or income tax expense. The budpeted cash receipts for December afe: Multiple Coricos