3 points 5? Dynamic - Problem and answer changg with each attempt (consider an Excel solution) Farm Supply is located in a small town on the coast of California. Data regarding the store's operations follow: - Sales are budgeted at 303,425 for November, $ 348,359 for December, and $ 225,216 for January. - Collections are expected to be 70% in the month of sale and 30% in the month following the sale. 0 The cost of goods sold is 75% of sales. - The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $22,400. . Monthly depreciation is $27,500. - Ignore taxes. Balance Sheet October 31 Assets Cash 95 33,000 Accounts receivable 83,500 Merchandise inventory 181,800 Property, plant and equipment, net of $624,000 accumulated depreciation 918,000 Total assets $ 1,216,300 Liabilities and Stockholders' Equity Accounts payable $ 252,000 Common stock 753,000 Retained earnings 211,300 Total liabilities and stockholders' equity $ 1.215.300 Calculate the difference between cash receipts and cash disbursements for December. Hint: Range of answer is 45,0000 to 60,000 Type your