Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: . Sales are budgeted at $340,000 for November, $320,000 for December, and $310,000 for January. Collections are expected to be 80% In the month of sale and 20% 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 60% 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 $24,000. Monthly depreciation Is $15,000. . Ignore taxes. Balance Sheet October 31 Assets Cash $ 20,000 Accounts receivable 70,000 Merchandise inventory 153, 000 Property, plant and equipment, net of $572,000 accumulated depreciation 1, 094, 000 Total assets $1, 337,000 Liabilities and Stockholders' Equity Accounts payable $ 254,000 Common stock 820, 000 Retained earnings 263,000 Total liabilities and stockholders' equity $1, 337, 000 Expected cash collections In December are