TB Problem Qu. 8-209 (Algo) Weller Industrial Gas Corporation... Welier industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at $350,000 for November, $370.000 for December, and $360,000 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 69% of sales. - The company desires an ending merchendise 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 cosh are $20.100. - Monthly depreciation is $19,900. - Ignore taxes. Prepare Cash Budgets for November and December, Prepare Budgeted Income Statements for November and December. Prepare a Budgeted Balance Sheet for the end of December