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Dynamic - Answer changes with each attempt (consider an Excel solution) San Luis...

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Accounting

Dynamic - Answer changes with each attempt (consider an Excel solution)
San Luis Mill and Lumber sells lumber and general building supplies to building contractors in a medium-sized town in California. Data regarding the store's operations follow:
Sales are budgeted at $347,796 for November, $343,787 for December, and $316,603 for January.
Collections are expected to be 90% in the month of sale and 10% in the month following the sale.
The cost of goods sold is 70% of sales.
The company desires to have an ending merchandise inventory equal to 50% of the following 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 $23,716
Monthly depreciation is $16,872.
Ignore taxes.
The net income for December would be:
Hint: Range is $50,000 to $65,000
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