Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:

• Sales are budgeted at $250,000 for November, $270,000 for December, and $235,000 for January.
• Cash collections are expected to be $246,000 for November, $273,000 for December, and $244,000 for January.
• The cost of goods sold is 65% of sales.
• Cash disbursements for food product purchases are expected to be $197,000 for November, $202,000 for December, and $188,000 for January.
• Other monthly expenses to be paid in cash are $52,000.
• Monthly depreciation is $8,000.
• The company declares and pays a monthly cash dividend of $2,000.
• The balance sheet at October 31^st shows a cash balance of $20,000 and a retained earnings balance of $156,000.
• Corporation policy requires that the company maintain a minimum cash balance of $20,000 at the end of each month.
• Ignore taxes.

A. The excess (deficiency) for November would be:

B. In order to meet the minimum cash balance requirement at the end of November, the Company will need to borrow:

C. The net income (loss) for the month of November would be:

D. Retained earnings at the end of November would be: