Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $320,000 for November, $330,000 for December, and $330,000 for January. Collections are expected to be 80% in the month of sale, 17% in the month following the sale, and 3% uncollectible. 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 $21,700. Monthly depreciation is $18,900. Ignore taxes. Balance Sheet October 31 Assets Cash $41,000 Accounts receivable, net of allowance for uncollectible accounts 89,000 Merchandise inventory 156,000 Property, plant and equipment, net of $617,000 accumulated depreciation 1,235,000 Total assets $1,521,000 Liabilities and Stockholders' Equity Accounts payable $182,500 Common stock 970,000 Retained earnings 368,500 Total liabilities and stockholders' equity $1,521,000 The difference between cash receipts and cash disbursements in December would be: $22,563 $8,500 $51,825 $92,625