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 desires to have an ending merchandise inventory at the end of each month equal to 60% of the next month's cost of goods sold. 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. Balance Sheet October 31 Assets Cash. $ 27,000 Accounts receivable, net of allowance for uncollectible accounts... 79,000 Merchandise 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 Accounts payable at the end of December would be: $81,900 $141,700 $59,800 $149,500