Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $410,000 for November, $390,000 for December, and $380,000 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 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 $24,700. Monthly depreciation is $15,700 Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,700 accumulated depreciation Total assets $ 20,700 70,700 229,600 1,094,700 $1,415,700 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 254,700 820,700 340,300 $1,415,700 December cash disbursements for merchandise purchases would be: Multiple Choice o $316,800 o $212,800 o $312,000 o $306,400