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Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: - Sales are budgeted at $310,000 for November, $330,000 for December, and $230,000 for January. - Collections are expected to be 60% in the month of sale and 40% in the month following the sale. - The cost of goods sold is 70% of sales. - The company desires to have an ending merchandise inventory at the end of each month equal to 90% 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 $23,100. - Monthly depreciation is $31,000. - Ignore taxes. Retanea earnngs at the end or vecember would be: Multiple Choice $284,500 $224,800 $308,600 $278,800