Eramble Corporation is a small wholesaler of gourmet food products Data regarding the stores operators follow 0 Sales are budgeted at $230,000 for November, $210.000 for December, and $200,000 for January Collections are expected to be 40% in the month of sale and 60% in the month following the sale The cost of goods sold is 65% of sales The company would like to maintain ending merchandise Inventones equal to 58% of the next month's cost of goods sold Payment for merchandises made in the morth following the purchase Other monthly expenses to be paid in cash are $22.900 Monthly depreciation is $13.900. Ignore takes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of 5574,300 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 22,300 72,300 62,225 1,096,300 $ 1,273, 125 $ 25,00 122/30 194,525 $1,273, 125 Expected cach collections in December are: Choo