TB MC Qu. 8-118 Bramble Corporation is a small wholesaler ... Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $430,000 for November, $410,000 for December, and $400,000 for January . Collections are expected to be 60% in the month of sale and 40% in the month following the sale. The cost of goods sold is 85% of sales. The company would like to maintain ending merchandise Inventories equal to 75% 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 $24.900 Monthly depreciation is $15,900 Ignore taxes Balance Sheet October 31 Assets Cast Accounts receivable Merchandise inventory Property, plant and equipment, net of $572,900 Accumulated depreciation Total assets 20.900 70.900 274.125 1,094,900 $1,460,825 Liabilities and Stockholders equity hecounts payable Common stock Retained earning total liabilities and stockholders equity $ 254,900 826,900 305,025 Expected cash collections in December are: Common stock Retained earnings Total Itabilities and stockholders' equity 820,900 385, 025 51,460,825 8 g 0034 Expected cash collections in December are: Multiple Choice 5410.000 4000 3172.000 o SATHO