Corporation's data regarding the store's operations follow:

Sales are budgeted at $380,000 for November, $400,000 for December, and $370,000 for January.

Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible.

The cost of goods sold is 65% of sales.

The company desires an ending merchandise inventory equal to 60% of the cost of goods sold in the following month.

Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $22,000.

Monthly depreciation is $18,000.

Ignore taxes.