explain answers - do questions 9-18 in attachment. Use the following information to answer questions 10 - 15: Dilbert Farm Supply is located in a small town in the rural west. Data regarding the stores operations follows: Sales are budgeted at $260,000 for November, $230,000 for December, and $210,000 for January. Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible. The cost of goods sold is 65% of sales The company purchases 60% of its merchandise in the month prior to the month of sale and 40% in the month of sale. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $20,300. Monthly depreciation is $20,000. Ignore taxes. Statement of Financial Position October 31 Cash $ 27,000 Accounts receivable (net of allowance for uncollectible accounts) 79,000 Inventory 101,400 Property, plant and equipment (net of $574,000 accumulated depreciation) 1,082,000 Total assets $1,289,400 Liabilities and Stockholders Equity Accounts Payable $ 169,000 Common Stock 740,000 Retained Earnings 380,400 Total Liabilities and stockholders equity $1,289,400 Expected cash collections in December are: $230,000 $184,000 $233,400 $49,400 The cost of December merchandise purchases would be: $141,700 $169,000 $81,900 $149,500 The entry for November is as follows: November Sales 260,000 Budgeted COGS (Sales * 65%) 169,000 Required Purchases 157,300* *(169,000 *.4)+(149,500 *.6) December cash disbursements for merchandise purchases would be: $141,700 $149,500 $157,300 $81,900 The cash balance at the end of December would be: $180,500 $153,500 $82,800 $27,000 The excess (deficiency) of ending cash available over beginning cash available for December would be: $55,800 $37,900 $93,700 $17,900 The net income for December is: $60,200 $37,900 $40,200 $55,800