Big Bearcat Supply Co. is located in a cozy riverside community. The store provides you with the following information regarding their operations: 1. Sales are budgeted at $220,000 for November, $200,000 for December, and $210,000 for January 2. Collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 390 uncollectible 3. The cost of goods sold is 65% of sales 4. The company desires to have an ending merchandise inventory at the end of each month equal to 50% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase 5. 6. 7. Other monthly expenses to be paid in cash are $22,500 Monthly depreciation is $19,000 Ignore taxes Statement of Financial Position October 31 Assets $ 16,000 Accounts receivable (net allowance for uncollectible accounts 76,000 S 71,500 $ 956,000 S1,119,500 Cash Merchandise inventory PP&E net $536,000 of accumulated depreciation Total Assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 147,000 S 840,000 $ 132,500 1,119,500 Total Liabilities and Stockholders' Equity What is Big Bearcat's cash balance at the end of December if the cash balance for 11/30 is $76,500