Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow. Sales are budgeted at $220,000 for November, $200,000 for December, and $190,000 for January 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 60% of sales. The company would like to maintain ending merchandise Inventories equal to 50% 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 $22,800. Monthly depreciation is $13,800. Ignore taxes. $ Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,400 accumulated depreciation Total assets 22,400 72,400 66,000 1,096,400 $1,257,200 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' $ 256,400 822,400 178,400 uity $1,257,200 December cash disbursements for merchandise purchases would be: Multiple Choice $57.000 $126,000 $120,000 $117,000