Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $350,000 for November, $370,000 for December, and $360,000 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 72% 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 $21,300. Monthly depreciation is $16,300. Ignore taxes. Balance Sheet October 31 Assets Cash $ 22,300 Accounts receivable (net of allowance for uncollectible accounts) 82,300 Merchandise Inventory 201,600 Property, plant and equipment (net of $661,000 accumulated depreciation) 1,170,000 Total assets $ 1,476,200 Liabilities and Stockholders Equity Accounts payable $ 199,300 Common stock 870,000 Retained earnings 406,900 Total liabilities and stockholders equity $ 1,476,200 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.