Bracken Corporation is a small wholesaler of gourmet food products Data regarding the store's operations follow Sales are budgeted at $396 000 for November $492.000 for December and $450 000 for January o Collections are expected to be in the month of sale, 17% in the month following the sale and uncollectible The cost of goods sold is 80% of sales o The company would like to maintain ending merchandise inventores equal to 70% of the month's cost of goods sold Payment for merchandise is made in the month following the purchase o Other monthly expenses to be paid in cash are $24600 Monthly depreciation is $21,700 o lgnore Taxes Balance Sheet October 31 Cash Accounts receivable net of allowance for uncollectible accounts Merchandise inventory Property, plant and equipment, net of 5595.000 accumulated depreciation Total assets Liabetes and Stockholders' County Accounts payable Common stock Retained emings Total abilities and stockholders equity 00 92600 22760 100000 $15.00.450 5302000 240.000 2950 December cash disbursements for merchandise purchases would be O $275,520 O $363.600 $393,600 $370,560