* Untitled Question Company, a reseller of women's fashions, has budgeted its activity for March. The budget information is presented below: 1. Sales are $550,000. All sales are cash. II. Merchandise inventory on February 28 is $300,000 III. Budgeted depreciation for March is $35,000. IV. Cash in bank on March 1 is $25,000. V. Selling and administrative expenses are budgeted at $60,000 for March and are paid in cash. VI. The planned merchandise inventory on March 31 is $270,000. VII. The invoice cost for merchandise purchases represents 75% of sales price. All purchases are paid for in cash. 1. Refer to Company. The budgeted cash receipts for March are: a. $412,500 O b. $137,500 O c. $585,000 O d. $550,000 O