Dynamic $-$ Answer changes with each attempt $($consider an Excel solution$)$

San Luis Mill and Lumber sells lumber and general building supplies to building contractors in a medium$-$sized town in California. Data regarding the store's operations follow:

Sales are budgeted at $$347,796$ for November, $$343,787$ for December, and $$316,603$ for January.

Collections are expected to be $90\%$ in the month of sale and $10\%$ in the month following the sale.

The cost of goods sold is $70\%$ of sales.

The company desires to have an ending merchandise inventory equal to $50\%$ of the following 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 $$23,716$

Monthly depreciation is $$16,872.$

Ignore taxes.

The net income for December would be:

Hint: Range is $$50,000$ to $$65,000$