Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow. Sales are budgeted at $330,000 for November, $350,000 for December, and $340,000 for January. Collections are expected to be 80% in the month of sale, 18% in the month following the sale, and 2% uncollectible. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 70% 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 S21,100. Monthly depreciation is $16.100. Ignore taxes. Balance Shee October 31 Assets Cash 22,100 Accounts receivable (net of allowance for uncollectible accounts) 82,100 161,700 Merchandise Inventory Property, plant and equipment (net of $659,000 accumulated depreciation) 1.170,000 Total assets 1.435.900 Liabilities and Stockholders' Equity 199.100 Accounts payable 850.000 Common stock 386,800 Retained earnings Total liabilities and stockholders' equity 1,435,900