Balance Sheet September 30 Assets S 100,000 250,000 114,000 Accounts receivable Property, plant and equipment 866.400 $1,330,400 (net of $200,000 accumulated depreciation) Liabilities and Stockholders' Equity 300,000 Accounts payable... Common stock Retained earnings Total liabilities and stockholders' equity 448.400 Required: a. Prepare a Sales Budget for October, November, December, and Quarter b. Prepare a Schedule of Expected Cash Collections for October, November, December, and Quarter. Prepare a Merchandise Purchases Budget for October, November, December, and Quarter. c. d. Prepare a Schedule of Expected Cash Disbursements for October, November December, and Quarter. reaCas Budgets fr Qetober, Novemr, December and Quarer (12 points) Weldon Indus trial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations .The company sells each unit for $45 Budgeted Sales: Month October November December January Sales in Units 30,000 25,000 40,000 30.000 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 The cost of the merchandise is $38 per unit. In addition to meeting the current month's sales demand, management . wants to maintain and ending inventory balance of 10% ofthe next month's sales The ending inventory balance at September 30th is 3,000 units. Payment for merchandise is made as follows: 6 paid in the month of the purchase, o paid the month following the purchase. . The A/P balance at September 30th will be paid in full in October. . The company has a line of credit for $500,000 at an annual interest Loans are taken out on first day of month borrowed and repaid at the A dividend was paid in October for $500,000. Minimum cash balance is $100,000. rate of 12%. end of the quarter with interest. Balance Sheet Assets 100,000 250,000 114,000 Accounts receivable Inventory.. Property, plant and equipment Liabilities and Stockholders' Equity Accounts payable Common stock. Retained earnings... Total liabilities and stockholders" equity S 300,000 448. 400 S1330400 Required: a. Prepare a Sales Budget for October, November, December, and Quarter. b. Prepare a Schedule of Expected Cash Collections for October, November, December, and Quarter. and Quarter December, and Quarter e. Prepare a Merchandise Purchases Budget for October, November, December d. Prepare a Schedule of Expected Cash Disbursements for October, November, e. Prepare Cash Budgets for October, November, December, and Quarter