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. Balance SheetOctober 31Assets  Cash$25,000Accounts receivable 77,000Merchandise inventory 162,400Property, plant

and equipment, net of $624,000 accumulated depreciation 1,026,000Total assets$1,290,400   Liabilities and Stockholders' Equity  Accounts payable$239,000Common stock 740,000Retained earnings 311,400Total liabilities and stockholders' equity$1,290,400?The cash balance at the end of December would be:

A. $38,300
B. $57,900
C. $25,000
D. $69,100


Answer: D

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Wolfe Co was incorporated on July 1 . 2014, with $200,000 from the issuance of stock and borrowed funds of $30,000 . During the first year of operations, net income was $10,000 . On December 15, Wolfe paid an $800 cash dividend. No additional activities affected owners' equity in 2014 . At December 31 . 2014, Wolfe's liabilities had increased to $37,600 . In Wolfe's December 31 . 2014, balance

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The constraint (x1 + x2 + x3 + x4 = 2) means that ________ out of the ________ projects must be selected. A) exactly 1, 2

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