Caribbean Construction Corporation supplies materials and lease machinery for construction. Data regarding the store's operations follow: Sales are budgeted at $375,000 for November, S280,250 for December, and S298,654 for January Collections are expected to be 60% in the month of sale, 30% in the month following the sale, and 10% uncollectible. The cost of goods sold is 60% of sales. The company desires an ending merchandise inventory equal to 55% of the cost of goods sold in the following month Payment for merchandise is made in the month folowing the purchase. Other monthly expenses to be paid in cash are $18,956. Monthly depreciation is S17,500. - " " Ignore taxes. Balance Sheet October 31 Cash Accounts receivable (net of allowance for uncollectible accounts) S16,000 74,000 140.400 L066000 Property, plant and equipment (net of$500,000 accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $240,000 640,000 416.400 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 Decembe