Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $210,000 for November, $190,000 for December, and $180.000 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 55% of sales. . The company would like to maintain ending merchandise inventories equal to 45% 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 $22.700. Monthly depreciation is $13,700. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,500 accumulated depreciation Total assets $ 22,500 72,500 51,975 1,096,500 $1,243,475 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 256,500 822,500 164,475 $1,243,475 The cost of December merchandise purchases would be: Multiple Choice $115.500 O $44.550 O $102,025 d d $104,500