Moving to another question will save this response. Question 12 The following information pertains to the January operating budget for Casey Corporation. Budgeted sales for January $207,000 and February $105,000 Collections for sales are 60% in the month of sale and 40% the next month. Gross margin is 25% of sales Administrative costs are $19,000 each month. Beginning accounts receivable is $30,000 Beginning inventory is $16,000. Beginning accounts payable is $71,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 30% of next month's cost of goods sold (COGS). For January, budgeted cash collections are O $154,200 $30,000 $207,000 $124,200 Moving to another question will save this response.