Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $230,000 for November, $210,000 for December, and $200,000 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 65% of sales The company would like to maintain ending merchandise inventories equal to 55% o the next month's cost of goods sold. Payment or merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $22,900 Monthly depreciation is $13,900. Ignore taxes Balance Sheet October3 Assets Cash Accounts recelvable Merchandise Inventory Property. plant and equipment, net of $574,300 accumulated depreclation Total assets $ 22.300 72,300 82.225 1096,300 S 1,273,125 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total llabllities and stockholders' equity 256.300 822,300 194,525 S 1273,125 The cost of December merchandise purchases would be: O $71.500 O $149.500 O$136,500 O $132,925