Help Hamby Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below Hanby Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 91,000 133,000 36,000 213,000 $ 74.000 325.000 71,00 $ 473,000 The company managers have made the following additional assumptions and estimates 1. Estimated sales for July August September and October will be $240 000 $260.000 $250,000, and $270,000 respectively 2. All sales are on credit and all credit sales are collected. Each months credit sales are collected 35% in the month of sale and 65% in the month following the sale. Al of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 25% of the cost of next month sales. The cost of goods sold is 60 of sales. The company Days for 40% of its merchandise purchases in the month of the purchase and the remaining to the month following the purchase. All of the accounts payable at June 30 will be paid in July 4 Monthly selling and administrative expenses are always $44000. Each month $8000 of this total amount is depreciation expense and the remaining $35.000 relates to expenses that are paid in the month they are incurred 5. The company does not plan to borrow money or pay or declare dividends the quarter ended September 30 The company does not plan to issue any common Stocorrepurchase its own stock during the quarter ended September 30 How much is the company's bected chance purchases in the mont of Setember Multiple Choice 505H $147.000 $190,500 $154500 $153.000