Dilbert Farm Supply Is Located in a Small Town in the Rural

Multiple Choice

Dilbert Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: o Sales are budgeted at $260,000 for November, $230,000 for December, and $210,000 for January.
O Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible.
O The cost of goods sold is 65% of sales.
O The company desires to have an ending merchandise inventory at the end of each month equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
O Other monthly expenses to be paid in cash are $20,300.
O Monthly depreciation is $20,000.
O Ignore taxes. Retained earnings at the end of December would be:

A) $380,400
B) $418,300
C) $471,300
D) $466,400