Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow. . Sales are budgeted at $330.000 for November, 5310.000 for December, and $300,000 for January Collections are expected to be 50% in the month of sale and 50% 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 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 $23.900 Monthly depreciation is $14.900 Ignore taxes . Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,300 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total abilities and stockholders equity $ 21,300 71,300 162,875 1,895,300 $ 1,348,775 $ 255,300 821,300 272,175 $ 1,348,775 The cost of December merchandise purchases would be