please answer question completely using multiple choice.

Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: . . Sales are budgeted at $248,000 for November, $288,000 for December, and $220,000 for January Collections are expected to be 60% in the month of sale and 40% in the month following the sale 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 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 $17.500. Monthly depreciation is $20,000. . Ignore taxes. . $ Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets 20,000 79,500 130,200 976,000 $1,205,700 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 244,000 745,000 216, 700 $1,205,700 Accounts payable at the end of December would be: Multiple Choice $180,300 O O $216,000 $115,500 $64.800