October 31 Assets Cash Accounts receivable (net of allowance for uncollectible accounts) Merchandise inventory Property, plant and equipment (net of$536,000 accumulated depreciation) Total assets $16,000 76,000 71,500 956,000 $1,119,500 Liabilities and Stockholders' Equity ccounts payable Common stock Retained earning Total liabilities and stockholders' equity 147,000 840,000 132.500 $1,119,500 5. Expected cash collections in December are: a) S59,400 b) $140,000 c) $199,400 d) $200,000 6. T he cost of December merchandise purchases would be a) $133,250 b) $68,250 c S130,000 d) S143,000