Diy Form Supply is located in a small town in the rural west. Data regarding the store's 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 u 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 so Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $21100 Monthly depreciation is $21,000, Ignore the Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation rocal allsets Liabilities and stockholders' quity Recounts payable Common stock Betained earnings total liabilities and stockholders' equity $ 25,000 27,000 162,400 1,026.000 $ 1,290,400 $ 239,000 740,000 311,400 $ 1.290, 400 Retained comings at the end of December would be