Correy Inc. reported the following information for 2021: October November December Budgeted sales $360,000 $410,000 $440,000 Budgeted purchases 240,000 256,000 290,000 Operating expenses 130,000 140,000 145,000 All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 40% in the following month and 5% two months after the sale. Cost of goods sold is 35% of sales. Correy pays for purchases as follows: 60% in the month of purchase and 40% in the following month. Operating expenses are paid 70% in the month incurred; 30% in the month after they are incurred. Operating expenses include depreciation of $10,000. Correy has a beginning balance of 62,000 and desires an ending cash balance of $60,000 and has a line of credit to borrow any shortfall. Prepare a cash budget for December.