Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow. Sales are budgeted at $360,000 for November, $340,000 for December, and $330,000 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 85% of sales. . The company would like to maintain ending merchandise inventories equal to 75% 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 $24,200. Monthly depreciation is $15,200. Ignore taxes. . . Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,200 accumulated depreciation Total assets $ 20,200 70,200 229,500 1,094,200 $1,414,100 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 254,200 820,200 339,700 $1,414,100 Expected cash collections in December are: $180,000 O $170,000 O $340,000 $350,000