Quiz i Saved Help Save & Exit Submit Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $280,000 for November, $260,000 for December, and $250,000 for January. . Collections are expected to be 45% in the month of sale and 55% in the month following the sale. . The cost of goods sold is 80% of sales. The company would like to maintain ending merchandise inventories 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 $23,400. . Monthly depreciation is $14,400. . Ignore taxes. Balance Sheet October 31 Assets Cash $ 21, 800 Accounts receivable 71, 800 Merchandise inventory 156, 800 Property, plant and equipment, net of $573,800 accumulated 1, 095, 800 depreciation Total assets $1, 346, 200 Liabilities and Stockholders' Equity Accounts payable $1 255 , 800 Common stock 821, 800 Retained earnings 268, 600 Total liabilities and stockholders' equity $1, 346, 200 The difference between cash receipts and cash disbursements for December would be: