Prepare a Merchandise Purchases Budget for November and December. Prepare a Budgeted Balance Sheet for the end of December. Prepare Budgeted Income Statements for November and December. \begin{tabular}{|l|l|l|} \hline Cash disbursements for merchandise & & \\ \hline Other monthly cash expenses & & \\ \hline Total cash disbursements & & \\ \hline Beginning cash balance & & \\ \hline Add cash receipts & & \\ \hline Total cash available & & \\ \hline Less cash disbursements & & \\ \hline Excess (deficiency) of cash available over disbursements & & \\ \hline Financing & & \\ \hline Ending cash balance & & \\ \hline \end{tabular} Weller Industrial Gas Corporation supplles acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at $370,000 for November, $390,000 for December, and $380,000 for January. - Collections are expected to be 80% in the month of sale and 20% in the month following the safe. - The cost of goods sold is 74% 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 $21,700. - Monthly depreciation is $21,500. - Ignore taxes. 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 Decembet, e. Prepare a Budgeted Balance Sheet for the end of December. Complete this question by entering your answers in the tabs below. Prepare a Schedule of Expected Cash Collections for November and December