Novak Inc. provided the following information: - Novak pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. - General operating expenses are budgeted to be $32,500 per month of which depreciation is $3,300 of this amount. Novak pays operating expenses in the month incurred. - Novak makes loan payments of $5,000 per month of which $400 is interest and the remainder is principal