Can someone please help me figure out why my answer is $600 higher for the ASSETS in the January Balance sheet please?

Case 10-59 Sports Fanatic Company is a retail sporting goods store that uses accrual accounting for its records. Information on Sports Fanatic's operations are as follows:

1. The store has budgeted sales at $220,000 for January and $200,000 for February.
2. It expects collections to be 60% in the month of sale and 38% in the month following the sale. It expects 2% of sales to be uncollectible.
3. Gross margin is 25% of sales.
4. It purchases a total of 80% of the merchandise for resale in the month before the month of sale and 20% in the month of sale. It makes payments for merchandise in the month after it purchases it.
5. Other expected monthly expenses to be paid in cash amount to $22,600.
6. Annual depreciation is $216,000.
7. Sports Fanatic's balance sheet at the close of business on December 31 follows.

SPORTS FANATIC COMPANY
Balance Sheet
December 31
Assets
Cash
$22,000
Accounts receivable (net of $4,000 allowance for uncollectible accounts)
76,000
Inventory
132,000
Property, plant, and equipment (net of $680,000 of accumulated depreciation)
870,000
Total assets
$1,100,000
Liabilities and Shareholders' Equity
Accounts payable
$162,000
Common shares
800,000
Retained earnings
138,000
Total liabilities and shareholders' equity
$1,100,000

Prepare the income statement for January. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)