Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow Sales are budgeted at $360,000 for November, $340,000 for December, and $330.000 for January * Collections are expected to be 50% in the month of sale and 50% in the month following the sale. The cost of goods sold is 85% of sales. The company would like maintain ending merchandise inventories equal to 75% 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 $24.200. .Monthly depreciation is $15,200. . Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,200 accumulated depreciation Total assets $ 20,200 70, 200 229,500 1,094, 200 $1,414,100 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity S 254,200 820, 200 339, 700 S1,414,10e The cost of December merchandise purchases would be