B Remaining Time: 1 hour, 59 minutes, 36 seconds. Question Completion Status: Riffa Company is a merchandiser that provided a balance sheet as of September 30 as shown below: Riffs Company Balance Sheet September 30 Assets Cash Accounts receivable $99.000 90,000 Inventory 32,400 Buildings and equipment, net of depreciation 214,000 Total assets $395,400 Libbilities and Stockholders' Equity Accounts payable Common stock Retained eamings Total liabilities and stockholders equity $33.000 216,000 106,400 $395,400 WEBCAM RECORDING The company is in the process of preparing a budget for October and has assembled the following deta 2.Sales are budgeted at $240,000 for October and $250,000 for November, Of these sales, 35% will be for cask the remainder will be credit sales 40% of a mod's credit sales are collected in the moeds the sales are made, and the remaining 60% is collected in the following month. All of the September 30 accounts receivable will be collected in October 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the following month's cour of goods sold 3. All merchandine purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for is the following monds All of the September 30 accounts payable to suppliers will be paid during October 4. Selling and administrative expenses for October are budgeted at 578,000, excluuse of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,000 for the moonth Required: Using the information provided, Calculate or parpare the follning The budgeted cash collections for October 6. The bodgeted sirchandise purchases for October: The budgeted rash disbursements for merchanlite pardunes for October d. The boderted at operation income for October