Use the following to answer questions 16-20: Justin's Plant Store, a retailer, started operations on January 1.

Use the following to answer questions 16-20:Justin's Plant Store, a retailer, started operations on January 1. On that date, the only assets were $16,000 in cash and $3,500 in merchandise inventory. For purposes of budget preparation, assume that the company's cost of goods sold is 60% of sales. Expected sales for the first four months appear below.