Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $360,000 for November, $380,000 for December, and $350,000 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 desires an ending merchandise inventory equal to 60% 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 $21,900. Monthly depreciation is $20,000. Ignore taxes.

Balance Sheet October 31
Assets:
Cash	$16,000
Accounts receivable (net of allowances for uncollectable accounts	$74,000
Merchandise inventory	$140,400
Property, plant and equipment (net of $500,000 accumulated depreciation)	$1,066,000
Total Assets:	$1,296,400
Liabilities and Stockholders' Equity:
Accounts payable	$240,000
Common stock	$640,000
Retained earnings	$416,000
Total liabilities and stockholders' equity:	$1,296,400

Required: 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.