Dilly Farm Supply is located in a small town in the rural west. Data regarding the stores operations follow: . Sales are budgeted at $290.000 for November. $310.000 for December, and $210,000 for January. . Collections are expected to be 65% in the month of sale and 35% in the month following the sale. . The cost of goods sold is 80% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 70% 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 $21.100. e Monthly depreciation is $21,000. Ignore taxes. Balance Sheet October 31 Cash Accounts receivable Merchandise inventory Property, plant and equipment. net of $624,000 accumulated depreciation Total assets 25,000 77.000 162400 290400