Everywhere Sports is a retail store supplying sporting equipment to community sports clubs. Information about the store$$s operations is as follows:

November sales amounted to $$200000$

Sales are budgeted at $$220000$ for December and $$200000$ for January

Receipts are expected to be $60$ per cent in the month of sale and $38$ per cent in the month following the sale. Two percent of sales are expected to be uncollectable.

The store$$s gross margin is $25$ per cent of it sales revenue

A total of $80$ per cent of the merchandise for resale is purchased in the month prior to the month of sale, and $20$ per cent is purchased in the month of sale. Payment for merchandise is made in the month following the purchase.

Other monthly expenses paid in cash amount to $$22600$

Annual depreciation is $$216000$

The balance sheet as at $30$ November is provided in the picture.

Requirements: Calculate the following amounts:

$1/$ Budgeted cash receipts for December

$2/$ Budgeted profit $($loss$)$ before income taxes for December.

$3/$ Projected balance in accounts payable on $31$ December.