Help Save En Subt Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the stores operations follow 9 3440 Sales are budgeted at 5370,000 for November, $350,000 for December, and $340.000 for January Collections are expected to be 55% in the month of sale and 45% in the month following the sale The cost of goods sold is 70% of sales The company would like to maintain ending merchandise inventores equal to 60% of the next mort's cost of goods a Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $24.300 Monthly depreciation is $15,300 Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,300 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 20,300 70,300 155.400 1.094,300 $ 1.340,300 $ 258,300 820,300 265,700 $ 1,340,300 The cost of December merchandise purchases would be: O purchases would be Mile Choice $42.000 5259.000 $240.000 $245.000