2. (12 points) Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follovw The company sells each unit for $45 Budgeted Sales Month October November December Janu Sales in Units 30,00025,000 Collections are expected to be 70% in the month of sale, 30% in the month following the sale The A/R balance at September 30th will be collected in full in October The cost of the merchandise is S32 per unit. In addition to meeting the current month's sales demand, management wants to maintain and ending inventory balance of 10% of the next month's sales. 40,000 30,000 .The ending inventory balance at September 30th is 3,000 units Payment for merchandise is made as follows: V2 paid in the month of the purchase, i paid the month following the purchase The A/P balance at September 30th will be paid in full in October Other monthly expenses to be paid in cash are S300.000 . Balance Sheet September 30 Assets Cash Accounts receivable Inventory Property, plant and equipment $ 16,000 250,000 90,000 974,400 $1330400 Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 42,000 840,000 448,400 $1330400