Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:

Sales are budgeted at $380,000 for November, $360,000 for December, and $350,000 for January.

Collections are expected to be 60% in the month of sale and 40% in the month following the sale.

The cost of goods sold is 75% of sales.

The company would like maintain ending merchandise inventories equal to 65% 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 $24,400.

Monthly depreciation is $15,400.

Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	20,000
Accounts receivable		70,000
Merchandise inventory		153,000
Property, plant and equipment, net of $572,000 accumulated depreciation		1,094,000
Total assets	$	1,337,000
Liabilities and Stockholders' Equity
Accounts payable	$	254,000
Common stock		820,000
Retained earnings		263,000
Total liabilities and stockholders' equity	$	1,337,000

Expected cash collections in December are:

Multiple Choice

$152,000

$216,000

$360,000

$368,000