Multiply choiceA) 267,700B) 275, 700C) 295, 700D) 270, 700

Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations followt . Sales are budgeted at $248,000 for November, $288,000 for December, and $220,000 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 75% 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 $17,500. . Monthly depreciation is $10,000. . Ignore taxes, Balance Sheet October 31 Assets Cash $ 20,000 Accounts receivable 79,500 Merchandise Inventory 130,200 Property, plant and equipment, net of $624,000 accumulated depreciation 976,000 Total assets $1,205,700 Liabilities and Stockholders' Equity Accounts payable $ 244,000 Common stock 745,000 Retained earnings 216,700 Total liabilities and stockholders' equity $ 1,205,700