Seved Help Save & Exit Yummy Smells Corporation is a brand new wholesaler of exquisite candle products. Data regarding the store's operations follow: Sales are budgeted at $300,000 for October, $280,000 for November, and $270,000 for December .Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 70% of sales. The company would like to maintain ending merchandise inventories equal to 60% 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 $23,600. Monthly depreciation is $14.600. Ignore taxes. Assets Cash Accounts receivable Merchandise inventory Balance Sheet September 31 Property, plant and equipment, net of $573,600 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable: Common stock Retained earnings Total liabilities and stockholders' equity $ 21,600 71,600 126,000 1,095,600 $1,314,800 $ 255,600 821,600 237,600 $1,314,000 November cash disbursements for merchandise purchases would be: Multiple Choice $113,400 $201,600 $196,000 $191,800