Balance sheet and other cash information for International Gourmet Foods is presented below Sales are budgeted at $410,000 for November $390,000 for December, and $380.000 for January Collections are expected to be sox in the month of sale and 50% in the month following the sale The cost of goods sold is 80% of sales . The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the more flowing the purchase Other monthly expenses to be paid in cash are $24700 Monthly depreciation is $15.700 - Ignore taxes Balance Sheet October 31 Assets $ Canh 20,700 70,700 229.600 1,094,700 Accounts receivable Merchandise inventory Property, plant and equipment, not of 5572,700 accumulated depreciation Total assets $1,415,700 Liabilities and Stockholders' Equity Accounts payable Common stock Retailed earnings Total liabilities and stockholders' quity 254.100 820,00 340,300 31,415,700 The afference between concept and cash disbursements for December would be Me Choice S500 5435 Next >