- 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 sale. - 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. 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 December. Complete this question by entering your answers in the tabs below. Prepare a Schedule of Expected Cash Collections for November and December. repare a Merchandise Purchases Budget for November and December. Complete this question by entering your answers in the tabs below. Prepare Cash Budgets for November and December. Prepare Budgeted Income Statements for November and December. Complete this question by entering your answers in the tabs below. Prepare a Budgeted Balance Sheet for the end of December