Bramble Cor poration is a small wholesaler of gourmet food products. Data regarding the store's operations follow . Sales are budgeted at $240,000 for November, $220,000 for December, and $210,000 for January. Collections are expected to be 65% in the month of sale and 35% in the month following the sale. . The cost of goods sold is 70% of sales. . The company would like maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. . Other monthly expenses to be paid in cash are $23,000. . Monthly depreciation is $14,000. . Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,200 accumulated depreciation Total assets 22,200 72,200 100,800 1,096,200 $1,291,400 Liabilities and Stockholders Equity K Prev 23 of 25ll Next