a. Prepare a Schedule of Expected Cash Collections for November and December.

b. Prepare a Merchandise Purchases Budget for November and December.

c. Prepare Cash Budgets for November and December.

d. Prepare Budgeted Income Statements for November and December.

e. Prepare a Budgeted Balance Sheet for the end of December.

Neller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations bllow: Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $20,000. Monthly depreciation is $19,800. Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $584,000 accumulated depreciation) Total assets $ 20,800 81,800 214,200 994,000 $1,310,800 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 194.800 490,000 626,000 $1.310.800 Required: a. Prepare a Schedule of Expected Cash Collections for November and December b. Prepare a Merchandise Purchases Budget for November and December c. Prepare Cash Budgets for November and December d. Prepare Budgeted Income Statements for November and December e. Prepare a Budgeted Balance Sheet for the end of December Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Prepare Cash Budgets for November and December, Required A Required B Required Required D Required E Prepare a Schedule of Expected Cash Collections for November and December November $ 360,000 December $ 380,000 Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections 81,800 270,000 $ 90,000 285,000 375,000 351,800 $ Required A Regled B Required Required E Prepare a Merchandise Purchases Budget for November and December. Budgeted cost of goods sold Add: Desired ending merchandising inventory Total needs Less: Beginning merchandise inventory Required purchases November 252,000 226,100 478,100 214,200 263,900 December $ 266,000 220,150 486,150 226,100 $ 260,050 Required A Realreadc Required A Required B Requited Required D Required E Prepare Cash Budgets for November and December. November December Cash disbursements for merchandise Other monthly cash expenses Total cash disbursements 0 0 Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Financing Ending cash balance $ 0 $ 0 Recuired B Complete this question by entering your answers in the tabs below. Required A Required B Requid D Required E Prepare Budgeted Income Statements for November and December November December Sales Cost of goods sold 0 0 Other monthly expenses Depreciation $ 0 $