Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow:

?	Sales are budgeted at $340,000 for November, $360,000 for December, and $350,000 for January.
?	Collections are expected to be 75% in the month of sale, 22% in the month following the sale, and 3% uncollectible.
?	The cost of goods sold is 68% 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 $22,000.
?	Monthly depreciation is $17,000.
?	Ignore taxes.

Balance Sheet October 31 Assets Cash Accounts receivable (net of allowance for uncollectible accounts) Merchandise Inventory Property, plant and equipment (net of $668,000 accumulated depreciation) Total assets $ 23,000 83,000 184,960 1,170,000 $1,460,960 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 200,000 940,000 320,960 Total liabilities and stockholders' equity $1,460,960 Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b . Prepare a Merchandise Purchases Budget for November and December. (Input all amounts as positive values. Do not round intermediate calculations.) c . Prepare Cash Budgets for November and December. (Input all amounts as positive values.) d. Prepare Budgeted Income Statements for November and December. e. Prepare a Budgeted Balance Sheet for the end of December