Help Save & Ex Dilly Farm Supply is located in a small town in the rural west Data regarding the store's operations follow . Sales are budgeted at $290,000 for November, $310,000 for December, and $210,000 for January. . Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. . Other monthly expenses to be paid in cash are $21100. . Monthly depreciation is $21,000. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets $ 25,e00 77,000 162,400 1,026,00e $1,299,400 e o S, TOSHIBA