Dilbert Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $260,000 for November, $230,000 for December, and $210,000 for January. Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible. The cost of goods sold is 65% of sales. The company purchases 60% of its merchandise in the month prior to the month of sale and 40% in the month of sale. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $20,300. Monthly depreciation is $20,000. Ignore taxes. Statement of Financial Position October 31

Assets

Cash $ 27,000

Accounts receivable (net of allowance for uncollectible accounts) $ 79,000

Inventory $ 101,400

Property, plant and equipment (net of $574,000 accumulated depreciation) $ 1,082,000

Total assets $1,289,400

Liabilities and Stockholders Equity

Accounts payable $ 169,000

Common stock $ 740,000

Retained earnings $ 380,400

Total liabilities and stockholders equity $1,289,400

Calculate

1. Expected cash collections in December

2. December cash disbursements for merchandise purchases

3. The excess (deficiency) of cash available over disbursements for December

4. The cash balance at the end of December