13) Weller industrial Gas Corporation supplies acetylene and other compressed gas merchandise t industry. Data regarding the store's operations follow: - Sales are budgeied at $330,000 for November, $300,000 for December, and $320,000 for January. - Collections are expected to be 85% in the month of sale and 15% in the month following the sale. - The cost of goods sold is 60% of sales. - The company desires an ending inventory equal to 80% of the cost of goods sold in the following month. - Payment for merchandise purchased is made in the month following the purchase. - Other monthly expenses to be paid in cash are $21,200. - Monthly depreciation is $21,000. - Ignore taxes. Required: a. Prepare a Merchandise Purchases Budget for November and December. b. Prepare Cash Budgets for November and December. c. Prepare Budgeted Income Statements for November and December. d. Prepare a Budgeted Balance Sheet for the end of December