Beltre corporation is a small wholesaler of gourmet food products. data regarding the store's operations follow:

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sales are budgeted at $460,000 for november, $480,000 for december, and $470,000 for january.

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collections are expected to be 45% in the month of sale, 54% in the month following the sale, and 1% uncollectible.

• the cost of goods sold is 80% of sales.
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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 $24,300.
• monthly depreciation is $22,200.
• ignore taxes.

the difference between cash receipts and cash disbursements in december would be:

$62,500

$83,200

$34,300

$17,000