Bramble Corporatlon ls a small wholesaler of gourmet food products. Data regarding the store's operations follow: - Sales are budgeted at $210,000 for November. $190,000 for December, and $180000 for January. - Collections are expected to be 50% in the month ofsale and 50% in the month following the sale. - The cost of goods sold is 55% of sales - The company would like to maintain ending merchandise inventorles equal to 45% 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 $22,700. - Monthly depreciatlon is $13,700. - Ignore taxes. Balance Sheet October 31 Assets Cash $ 22,566 Accounts receivable 72,566 Merchandise inventory 51,975 Property, plant and equipment, net of $574,508 accumulated depreciation 1,696,566 Total assets $ 1,243,475 Liabilities and Stockholders' Equity Accounts payable $ 256,566 Common stock 522,566 Retained earnings 164,475 Total liabilities and stockholders' equity $ 1,2435475 The difference between cash receipts and cash disbursements for December would be. The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $30, 000 $130,000 February $35, 000 $150,000 March $41, 060 $110,000 April $36, 000 $121, 000 May $46, 060 $180, 000 June $60, 000 $150, 000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 40% in month of sale 40% in month following sale 20% in second month following sale The accounts receivable balance on January 1 of the current year was $81,000, of which $60,000 represents uncollected December sales and $21,000 represents uncollected November sales. The total cash collected during January by LaGrange Corporation would be