The following information relates to Diana's Fashions, a women's clothing retailer: Sales were budgeted at $54000 for November and $40000 for December. Collections are expected to be 70 per cent in the month of sale and 30 per cent in the month following the sale. The gross margin is budgeted at 30 per cent of sales. Merchandise is purchased on credit and payable in the following month. 80 per cent of the merchandise is purchased in the month prior to the month of sale, and 20 per cent is purchased in the month of sale. - Depreciation on shop fixtures and fittings is budgeted at $3600 per month. - Other monthly expenses are budgeted at $4520. The hudaeted balance sheet at 31 October is: "Net of accumulated depreciation of $136000. Required: Estimate the budgeted: 1 Cash receipts for November. 2 Profit for November. 3 Accounts payable at 30 November. 4 Inventory at 30 November