Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow . Sales are budgeted at $450,000 for November, $460,000 for December, and $460,000 for January Collections are expected to be 80% in the month of sale, 18% in the month following the sale, and 2% uncollectible. . The cost of goods sold is 55% of sales. * The company would like to maintain ending merchandise inventories 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 $20,500 . Monthly depreciation is $17,700. . Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable, net of allowance for uncollectible accounts 101,000 Merchandise inventory Property. plant and equipment, net of $629,000 accumulated 1295.000 $53,000 111,375 depreciation Total assets $1,560.375 Liabilities and Stockholders' Equitv