Remaining Time: 46 minutes, 56 seconds. Question Completion Status points QUESTION 25 Diy Farm Supply is located in a small town in the rural west. Data regarding the store's coration follow Sales are bugeted at $290.000 for November 1310,000 for December, and $210,000 for January Collections are expected to be in the month of sale, 33% in the month following the sale on 2 uncollectie The cost of goods sold is 20% of sales The company purchases 20% of its merchandise in the month prior to the month of sale and 30 in the month of sale Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are 521,100. Monthly depreciation is $21.000 -nore taxes $ 25,000 Statement of Financial Position October 31 Assets Cash Accounts receivable (net of allowance for uncollectible accounts) Inventory Property, plant and equipment et of $624.000 x comte depreciation) Total att 77.000 162.400 1.0250.00 51.290404 Labdities and Stockholders' Equity Accounts payable Common stock Retained ering Total liabilities and stockholders equity $ 239,000 740.000 31.400 $1.290.400 Send um Click Save and Samit and submit Sote All Anal % 5 8 9 0 6 Y E K G F HI D V N B M V X Remaining Time: 46 minutes, 56 seconds. Question Completion Status points QUESTION 25 Diy Farm Supply is located in a small town in the rural west. Data regarding the store's coration follow Sales are bugeted at $290.000 for November 1310,000 for December, and $210,000 for January Collections are expected to be in the month of sale, 33% in the month following the sale on 2 uncollectie The cost of goods sold is 20% of sales The company purchases 20% of its merchandise in the month prior to the month of sale and 30 in the month of sale Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are 521,100. Monthly depreciation is $21.000 -nore taxes $ 25,000 Statement of Financial Position October 31 Assets Cash Accounts receivable (net of allowance for uncollectible accounts) Inventory Property, plant and equipment et of $624.000 x comte depreciation) Total att 77.000 162.400 1.0250.00 51.290404 Labdities and Stockholders' Equity Accounts payable Common stock Retained ering Total liabilities and stockholders equity $ 239,000 740.000 31.400 $1.290.400 Send um Click Save and Samit and submit Sote All Anal % 5 8 9 0 6 Y E K G F HI D V N B M V X