Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: - Sales are budgeted at $310,000 for November, $330,000 for December, and $230,000 for January. - Collections are expected to be 60% in the month of sale and 40% in the month following the sale. - The cost of goods sold is 70% of sales. - The company desires to have an ending merchandise inventory at the end of each month equal to 90% 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 $23,100. - Monthly depreciation is $31,000. - Ignore taxes. The difference between cash receipts and cash disbursements for December would be: Multiple Choice $32,800 $69,300 $109,850 $44,250