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

The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information:The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: . Sales at $620,000, all for cash. . Merchandise inventory on October 31 was $285,000. . The cash balance November 1 was $35,000. . Selling and administrative expenses are budgeted at $111,000 for November and are paid for in cash. . Budgeted depreciation for November Is $59,000. . The planned merchandise inventory on November 30 is $315,000. . The cost of goods sold is 70% of the selling price. . Ail purchases are paid for In cash. . There is no interest expense or income tax expense. The budgeted cash receipts for November are: $620,000 $485.000 $135,000 $679,000