Use the following to answer Q$73$ to Q$81$:Dilbert Farm Supply is located in a small town in the rural west. Data regarding thestore's operations follow $($Ignore taxes$)$: Sales are budgeted at $$260,000$ for November, $$230,000$ for December, and$$210,000$ for January. Collections are expected to be $80\%$ in the month of sale, $19\%$ in the monthfollowing the sale, and $1\%$ uncollectible. The cost of goods sold is $65\%$ of sales. The company purchases $60\%$ of its merchandise in the month prior to the monthof sale and $40\%$ in the month of sale. Payment for merchandise is made in themonth following the purchase. Other monthly expenses to be paid in cash are $$20,300.$ Monthly depreciation is $$20,000.$Statement of Financial Position as at Oct $31$Assets $Cash $27,000$Accounts receivable $($net of allowance for uncollectible accounts$)79,000$Inventory $101,400$Property, plant & equipment $($net of $$574,000$ accumulated depreciation$)1,082,000$Total assets $1,289,400$Liabilities and Stockholders EquityAccounts payable $169,000$Common stock $740,000$Retained earnings $380,400$Total liabilities and stockholders equity $1,289,400$Q$78$The cash balance at the end of December would be:a$)$ $$27,000$b$)$ $$82,800$c$)$ $$153,500$d$)$ $$180,500$