Sales are budgeted at 280,000 in November, 240,000 for December, 190,000 for January

Collections are expected to be 52 percent in month of sale, 45 percent in month following sale and 3 percent uncollectible

COGS is 75 percent of sales

Payment for merchandise is made in the month following the purchase

Ending Inventory equal to 12 percent of the following month's COGS

Other monthly expenses to be paid in cash are 23,400

Monthly depreciation is 19,000

ignore tax

The net income (loss) for December would be:

(5200)

10,400

17,600

(28600)