Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:

• Sales are budgeted at $280,000 for November, $260,000 for December, and $250,000 for January.
• Collections are expected to be 45% in the month of sale and 55% in the month following the sale.
• The cost of goods sold is 80% of sales.
• The company would like to maintain ending merchandise inventories equal to 70% 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 $23,400.
• Monthly depreciation is $14,400.
• Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	21,800
Accounts receivable		71,800
Merchandise inventory		156,800
Property, plant and equipment, net of $573,800 accumulated depreciation		1,095,800
Total assets	$	1,346,200
Liabilities and Stockholders' Equity
Accounts payable	$	255,800
Common stock		821,800
Retained earnings		268,600
Total liabilities and stockholders' equity	$	1,346,200

The difference between cash receipts and cash disbursements for December would be:

• $78,600

• $34,800

• $17,000

• $26,100