Carter Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow Sales are budgeted at $462,000 for November, $472,000 for December, and $482,000 for January o Collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 3% uncollectible. The cost of goods sold is 85% of sales The company desires to have an ending merchandise Inventory equal to 80% of the following month's cost of goods sold. Payment for merchandise is made in the month following the Duit Other monthly expenses to be paid in cash are $26,550 Monthly depreciation is $20,400. o ignore taxes. Balance Sheet October 31 Assets $ 20,200 1900 219,500 996.000 $1317500 Accounts recenbenet of allowance for uncollectible accounts Inventory Property, plant and equipment net of $498 000 cumulated depreciation Total sets Lws and Stoholders touty Accounts payable Commons Retained earnings Total e s and stockholders equity $ 289.000 780,000 248.500 S2500 The chance at the end of December would be