Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: 2 8 00:54:17 Sales are budgeted at $350,000 for November, $330,000 for December, and $320,000 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 75% of sales. . The company would like to maintain ending merchandise inventories equal to 80% 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 $24.100. Monthly depreciation is $15,100. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,000 accumulated depreciation Total assets $ 20,000 70,000 153,000 1,094,000 $1,337,000 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 254,000 820,000 263,000 $1,337,000 Expected cash collections in December are: Multiple Choice $341,000 O $148.500 O O $330.000 O O $192,500