(a) What are the total cash receipts for the month of December 2017?

(b) What is the accounts receivable balance at the end of December 2017?

(c) What is the direct materials inventory balance at the end of December 2017?

(d) What are material purchases costs for December 2017?

(e) What are the total cash disbursements for December 2017?

(f) What is the ending balance in accounts payable for the end of December 2017?

(g) What is the ending cash balance for the month of December 2017?

(h) What is the net income before taxes for the month of December 2017?

(i) What is the stockholders equity at the end of December 2017?

(j) What is the property, plant, and equipment balance at the end of December 2017?

Online Montreal, Ltd., is an online apparel retailer. Relevant data for its monthly budget for December 2017 are as follows: November 2017 sales = $200.000 Sales are budgeted at $220,000 for December 2017 and $200,000 for January 2018. All sales are on account. Online Montreal, Ltd., expects to collect 60% in the month of sales and 40% in the first month following sales. There are no bad debts. Online Montreal, Ltd. maintains inventory at 80% of the budgeted sales requirements for the following month. Online Montreal, Ltd. pays half of the merchandise purchased in the month of purchase and the remaining half is paid in full in the month following the purchase. The retailer's gross margin is 25% of sales. Other monthly expenses paid in cash are $22.600 Annual depreciation is $216,000 Dividends of $20,000 are declared and paid in December 2017. The company wishes to maintain a minimum cash balance of $20,000. A line of credit is used to maintain this balance. Borrowing will be made in increments of $1.000. All borrowing is done at the beginning of the month and repayments are made at the end of the month. The annual interest rate is 12 %, paid when the loan is repaid (ignore accrual of interest in financial statements). Online Montreal, Ltd. plans to purchase new office equipment for $15,000 in January. The balance sheet for November 30, 2017 is depicted below: Assets CURRENT ASSETS Cash Accounts receivable Inventory Total Current Assets $22,000 80,000 132.000 234,000 862.000 1,096,000 Property, plant, and equipment Property, plant, and equipment (net of $600,000 accumulated depreciation) Total assets Liabilities and Stockholders' Equity Current Liabilities Accounts payable $81,000 Shareholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity 795,000 220,000 1,096,000