Bramble corporation is a small wholesaler of gourmet food products. data regarding the store's operations follow: sales are budgeted at $240,000 for november, $220,000 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 70% of sales. the company would like to maintain ending merchandise inventories equal to 60% 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 $23,000. monthly depreciation is $14,000. ignore taxes. balance sheet october 31 assets cash $ 22,200 accounts receivable 72,200 merchandise inventory 100,800 property, plant and equipment, net of $574,200 accumulated depreciation 1,096,200 total assets $ 1,291,400 liabilities and stockholders' equity accounts payable $ 256,200 common stock 822,200 retained earnings 213,000 total liabilities and stockholders' equity $ 1,291,400 the cost of december merchandise purchases would b