Question 13 1 points Save An Dily Farm Supply is located in a small town in the nural west. Data regarding the store's operations follow Sales are budgeted at $290,000 for November, $310,000 for December, and $210,000 for January * Colections are expected to be 65% nthe month of sale and 35% in the month follow rg the sale. * The cost of goods sold is 80% of sales . Theco pany desres to eanerdgmehandse i ventory at the end of each month e aal to 70% of the next month's cost of goods sold. Payment for mecha de ima e o th folowing the purchase Other monthly expenses to be paid in cash are $21,100 e Monthly depreciation is $21,000 ow taxes. Balance Sheet October 1 25,00 Accounta receiwbie MerchandLos inventoy Propeety, plant and quignent, net ot s624,000 cemulated depreeiation 1 026-008 1,290, Liabihicies aed stockbolders' Equity 239,009 49, 0s0 Tetal 1iabilities and stockhoLdezs quity The cash balance at the end of December would be 69,100 $25,000 $57,900 38.300