Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $440,000 for November, $420,000 for December, and $410,000 for January . Collections are expected to be 65% in the month of sale and 35% 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 $25,000 Monthly depreciation is $16,000. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity The difference between cash receipts and cash disbursements for December would be: $ 21,000 71,000 246,400 1,095,000 $ 1,433,400 $ 255,000 821,000 357,400 $ 1,433,400 Common stock Retained earnings Total liabilities and stockholders' equity 821,000 357,400 $ 1,433,400 The difference between cash receipts and cash disbursements for December would be: Multiple Choice $34,600 $45,900 $61,200 $106,600