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

Sales at $500,000, all for cash.

Merchandise inventory on October 31 was $225,000.

The cash balance November 1 was $23,000.

Selling and administrative expenses are budgeted at $75,000 for November and are paid for in cash.

Budgeted depreciation for November is $35,000.

The planned merchandise inventory on November 30 is $255,000.

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:

$365,000

$500,000

$135,000

$535,000