Handy Hardware is a retail hardware store. Information about the store's operations follows.

November $201$ sales amounted to $$200,000.$

Sales are budgeted at $$220,000$ for December $201$ and $$200,000$ for January $202.$

Collections are expected to be $60$ percent in the month of sale and $38$ percent in the month following the sale. are expected to be uncollectible. Bad debts expense is recognized monthly.

The store's gross margin is $25$ percent of its sales revenue.

A total of $80$ percent of the merchandise for resale is purchased in the month prior to the month of sale, and $20$ purchased in the month of sale. Payment for merchandise is made in the month following the purchase.

Other monthly expenses paid in cash amount to $$22,600.$

Annual depreciation is $$216,000.$

The company's balance sheet as of November $30,201,$ is as follows:

Required:

Compute the budgeted cash collections for December $201.$

Compute the budgeted income $($loss$)$ before income taxes for December $201$