TB MC Qu. 8-120 (Algo) Bramble Corporation is a small wholesaler... Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $450,000 for November, $430,000 for December, and $420,000 for January. Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 65% 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 $25,100. Monthly depreciation is $16,100. Ignore taxes. Balance Sheet October 31 Assets Cash $ 21,100 Accounts receivable 71,100 Merchandise inventory 219,375 Property, plant and equipment, net of $573,100 accumulated depreciation 1,095,100 Total assets $ 1,406,675 Liabilities and Stockholders' Equity Accounts payable $ 255,100 Common stock 821,100 Retained earnings 330,475 Total liabilities and stockholders' equity $ 1,406,675 December cash disbursements for merchandise purchases would be: