) The following information pertains to Monroe Company: Cash Sales Credit Sales Total Sales Purchases January $12,000 $50,000 $62,000 $36,000 February $18,000 $70,000 $88,000 $40,000 March $22,000 $80,000 $102,000 $60,000 Cash is collected from customers in the following manner: Month of sale 35% Month following the sale 65% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. Labor costs are 30% of sales. Other operating costs a