Washington Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January. . Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. *The cost of goods sold is 65% of sales. . The company purchases 80% of its merchandise in the month prior to the month of sale and 20% in the month of sale. Payment for merchandise is made in the month following the purchase. Other monthly expenses paid in cash are $21,000. Monthly depreciation is $16,000. Statement of Financial Position October 31 Assets $22,000 Cash Accounts receivable (net of allowance for uncollectible accounts) 82,000 166,400 Inventory Property, plant, and equipment (net of $658,000 accumulated 1.170,000 depreciation) $1.440.400 Total assets Liabilities and Stockholders' Equity $199,000 Accounts payable 840,000 Common stock 401,400 Retained earnings Total liabilities and stockholders' s1,.440.400 equity Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. (This is in dollans not units. Units sold will be cost of goods sold (S), beginning and ending inventory will be in dollars (S) not units) c. Prepare Cash Budgets (collections, disbursements, and ending balance for November and December d. Prepare Budgeted Income Statements for November 1 to December 31. e. Prepare a Budgeted Balance Sheet for the end of December