Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow Sales are budgened at $254,000 for Nowember $294,000 for December, and $221000 for January . Collections are expected to be 60% in the month of sale and 40%nthe month following the sale * The cost of goods sold 80% of sales. * The company desres to have an ending merchandise in entory at the end or each month equal to 90% of the next mo t s cost or goods sold po ment t e che aseace n the month tollowing the purchase Other monthly expenses to be paid in cash are $15.600 Monthly depreciasion is $26,500 ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 eccumulated depreclation Total assets $ 32,00e 82,500 182,880 916,000 1,213, 38 Liabilities and Stockholders Equity Accounts payable Common stock Retained earnings $ 250,00 751,000 212.360 $1,213380 Total lisbilities and stockholders equity Accounts payable at the end of December would be: Multiple Choice $159120 $23,520 $182,640 $235.200