The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information:

Sales at $600,000, all for cash.

Merchandise inventory on October 31 was $275,000.

The cash balance November 1 was $33,000.

Selling and administrative expenses are budgeted at $105,000 for November and are paid for in cash.

Budgeted depreciation for November is $55,000.

The planned merchandise inventory on November 30 is $305,000.

The cost of goods sold is 70% of the selling price.

All purchases are paid for in cash.

There is no interest expense or income tax expense.

The budgeted cash receipts for November are: