iarver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's perations follow: - Sales are budgeted at $361,000 for November, $331,000 for December, and $311,000 for January. - Collections are expected to be 80% in the month of sale and 20% in the month following the sale. - The cost of goods sold is 80% of sales. - The company desires to have an ending merchandise inventory equal to 501 of the following month's cost of goods sald. Poyment for merchandise is made in the month following the purchase. - Other monthly expenses to be poid in cash are $25,800. - Monthly depreciation is $18,200. - ignore taxes. The net income for December would be: Mulviple Choice $26,300 122.200 817.400 540400