Bramble Corporation is a small wholesaler of gourmet food product Data reading the operation follow Sales are budgeted at $280,000 for November, $260,000 for December, and 5250,000 for Janary Collections are expected to be 45% in the month of sale and 55% in the month following the sale . The cost of goods sold is 80% of sales The company would like to maintain ending merchandise inventores equal to 70% of the next month's cost of goods sold merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $23.400 Monthly depreciation is $14.400 Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,800 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable $ 21,800 71,800 156,800 1,995,800 3.1,346,200 $ 255,800 Total Much O 524.000 520ROOD 5202400