Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $310,000 for November, $290,000 for December, and $280,000 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 65% of sales. The company would like to maintain ending merchandise inventories equal to 55% 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 $23,700. Monthly depreciation is $14,700. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,500 accumulated depreciation Total assets $ 21,500 71,500 110,825 1,095,500 $1,299, 325 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 255,500 821,500 222, 325 $1,299, 325 The difference between cash receipts and cash disbursements for December would be: Multiple Choice $79,950 $59,963 $44,625 $122,100