Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $330,000 for November, $310,000 for December, and $300,000 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 75% of sales. The company would like to maintain ending merchandise inventories equal to 65% 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 $23,900. Monthly depreciation is $14,900. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,300 accumulated depreciation Total assets $ 21,300 71,300 160,875 1,095,300 $1,348,775 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 255,300 821,300 272, 175 $1,348,775 Expected cash collections in December are