Answer A-E. In detail/explain.

Neller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations Follow: Sales are budgeted at $350,000 for November, $370,000 for December, and $360,000 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 78% of sales. The company desires an ending merchandise inventory equal to 80% 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 $20,400. Monthly depreciation is $20,200. Ignore taxes. $ Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $588,000 accumulated depreciation) Total assets 21,200 82,200 218,400 998,000 $1,319,800 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 195,200 530.000 594,600 $1,319,800 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 Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 195,200 530,000 594,600 $1,319,800 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 a Schedule of Expected Cash Collections for November and December. November $ 350,000 December $ 370,000 Sales $ Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections 82,200 ......... .......********** $ 82,200 $ 0 Required B >