In September, TEE Company a merchandising firm that sells one product, assembled the following information and estimates to prepare a budget for October Expected sales are 49,000 units at a price of $30 per unit. The cost of merchandise purchases is expected to be $20 per unt. Selling and administrative expenses are estimated at $328,000, of which $30,000 is depreciation. The October 1 cash balance is expected to be $43,000. TEE egmates that 70% of each month's sales are colected in the month of sale and the remaining 30% is cotected in the month after sale. Expected sales for September are $900,000. The company pays for 10% of its merchandise purchases during the month of purchase, and pays the remaining 90% during the month following purchase Merchandise purchases for September are estimated to be $784,000 and the purchase cost per unt is $20. All other out-of-pocket expenses ared for in cash Read the ents Requirement (a) TEE plans to purchase 33,000 units of merchandise in October Prepare a cash budget or statement of estimated cash cash outflow) Cash inflows Requirements Cash outflows Requirements (a) TEE plans to purchase 33,000 units of merchandise in October, Prepare a cash budget or statement of estimated cash flows for October for the company (b) Prepare a budgeted income statement (for extemal reporting purposes) for the month ended October 31 for TEE Company Net cash flow Opening cash Ending cash Done Print Requirement (b) Prepare a budgeted income statement (for extemal reporting purposes) for the month ended Odber 31 for TEE Company. (Use a parentheses or a minus sign i theses or a mus sign for Next