Data for RelyaTech, a large merchandiser, is below: Sales are budgeted at $308,000 for November, $328,000 for December, and $228,000 for January. Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. RelyaTech desires to have an ending merchandise inventory at the end of each month equal to 70% 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 $22,900. Monthly depreciation is $30,000. Ignore taxes. (ID#91645) Balance Sheet October 31 Assets Cash $ 35,500 Accounts receivable