Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $390,000 for November, $370,000 for December, and $360,000 for January Collections are expected to be 40% in the month of sale and 60% 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 $24,500. Monthly depreciation is $15,500 Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,500 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 20,500 70,500 218,400 1,094,500 $ 1,403,900 S 254,500 820,500 328,900 $ 1,403, 900 The difference between cash receipts and cash disbursements for December would be: Multiple Choice $56.700 O $42,525 O $32,600 O $101,600