Ruiz Company's budget includes the following credit sales for the current year. September, $158,000; October, $149,000; November, $133,000 : December, $170,000. Credit sales are collected as follows: 10% in the month of sale, 60% in the first month after sale, and 30% in the second month affer sale. How much cash can the company expect to collect in December as a result of current and past credit sales? Muttiple Choice $17.000 $124,500 596,800 5170.000 514t500. Calgary Industries is preparing a budgeted income statement. Predicted sales for the year are $775,000 and cost of goods sold is 40% of 5a les. The expected selling expenses are $85,500 and the expected general and administrative expenses are $94,500, which includes $27,500 of depreciation. The company's income tax rate is 30%. Budgeted net income is: Multiple Choice 5465,000 $199,500. $285,000. $85,600 505.500