Required infomation The following information applies to the questions alspeed book! Hamby Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The compeny's balance sheet as of June 30th is shown below: Harby Corporation Balance Sheet June 38 Assets Cash SR4, are Accounts receivable 144, aca Inventory 63,750 Plant and equipment, net of 223, are depreciation Total assets 5514,750 Liabilities and Stockholders' Equity Accounts payable S 94.ee Cornon stock 349,000 Retained earnings 81,750 Total liabilities and $514,750 stockholders' equity The company managers have made the following additional assumptions and cimates: 1. Estimated sales for July, August September and October will be 5340.000, $360,000 $300.000 and $370.000, respectively 2. Al sales are on credt and al credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts recevableature 3D will be collected in July 3. Each month's ending intory must equal 25% of the cast of the sales. The cost of goods sale is 75% of sales. The company pays far 40% af smerhandise purchases in the month of the purchase and the remaining 60% in the manth flowing the purchase. All of the con le at Jure 30 will be paid in July 4. Monthlycling and administrative expenses are always $44.000. Each month $6,000 of this total amount is depreciation expense and the remaining 533.000 reats to capenses that are paid the month they are incurred. 5. The company does not plan to borrow money or pay or declareddencs during the quarer ended September 30. The company does not plant issue any common stock or repurchase its own stock during the cuarter ended September 30 How much is the Company's expected cash disbursement for merchandise in the month of July? Millal Choice $155,250 $99.000 0 0 0 0 $187.500 O $103.600