EACTS: Carpon Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: Sales are budgeted at $340,000 for November, $350,000 for December, and $370,000 for January . Collections are expected to be 55% in the month of sale, 44% in the month following the sale, and 1% uncollectible. The cost of goods sold is 75% of sales. . The company desires to have an ending merchandise inventory 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 $21,100. Monthly depreciation is $19,000. . Ignore taxes. Statement of Financial Position October 31 Assets 13,000 82,000 153,000 1138,000 $1386,000 Accounts receivable (net of allowance for uncollectible accounts).. Property, plant and equipment (net of $598,000 accumulated depreciation... Total assets. Liabilities and Stockholders' Equity Accounts payable. Common stock... Retained earnings... Total liabilities and stockholders' equity. 257,000 600,000 529,000 $1386,000 1. The cash balance at the end of December would be: A. $13,000 B. $52,400 C, $65,400 D. $74,500