TB MC Qu$.8-112($Static$)$ Dilly Farm Supply is located in a small town...

Dilly Farm Supply is located in a small town in the rural 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.

Collections are expected to be $65\%$ in the month of sale and $35\%$ in the month following the sale.

The cost of goods sold is $80\%$ 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 $$21,100.$

Monthly depreciation is $$21,000.$

Ignore taxes.

The cash balance at the end of December would be:

Multiple Choice

$$69,100$

$$25,000$

$$57,900$

$$38,30022$ TB MC Qu$.8-126($Static$)$ Dilly Farm Supply is located in a small town... $00$:$35-10$ Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $$290,000$ for November, $$310,000$ for December, and $$210,000$ for January. Collections are expected to be $65\%$ in the month of sale and $35\%$ in the month following the sale. The cost of goods sold is $80\%$ of sales. Other monthly expenses to be paid in cash are $$21,100.$ Monthly depreciation is $$21,000.$ Ignore taxes. The net income for December would be: