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.

$?$ of sale and $40\%$ in the month of sale. Payment for merchandise is made in the month following the purchase.

Other monthly expenses to be paid in cash are $$21,900.$

$[3$Monthly depreciation is $$20,000.$

$$e taxes.

Statement of Financial Position

October $31$

Assets

Cash

Accounts receivable

$($net of allowance for uncollectible accounts$)$

Inventory.

Property, plant and equipment

$($net of $$500,000$ accumulated depreciation$)$

Total assets

Liabilities and Stockholders' Equity

Accounts payable

Common stock

Retained earnings

Total liabilities and stockholders' equity

$$16,000$

$\backslash$table$[[74,000],[140,400],[],[1,066,000$