)Weldon Industrial Gas Corporation supplies acetylene and other . The company sells each unit for S45. g the store's operations follow: a regardin compressed gases to industry. Data Budgeted Sales: October November December Jan Month Collections are expected to be 70% in the month of sale, 3 month following the sale 0% in the Sales in Units 30,000 25.000 40,000 30,000 - The A/R balance at September 30th will be collected in full in October The cost of the merchandise is $38 per unit. In addition to meeting the current month's sales demand, management wants to maintain and ending inventory balance of 10% of the next month's sales. The ending inventory balance at September 30th is 3,000 units. paid in the month of Payment for merchandise is made as follows: the purchase, Minimum cash balance is $100,000. rate of 12%. paid the month following the purchase. .The A/P balance at September 30th will be paid in full in October. .A dividend was paid in October for $500,000. . The company has a line of credit for $500,000 at an annual interest Loans are taken out on first day of month borrowed and repaid at the end of the quarter with interest. Balance Sheet September 30 Cash S 100,000 250,000 114,000 866.400 Accounts receivable Inventory Property, plant and equipment (net of $200,000 accumulated depreciation. Total assets. $1.330.400 Liabilities and Stockholders' Equity Accounts payable. S 300,000 582,000 448.400 Retained earnings Total liabilities and stockholders' equity Required a. Prepare a Sales Budget for October, November, December, and Quarter. b. Prepare a Schedule of Expected Cash Collections for October, November, December, and Quarter. and Quarter December, and Quarter. c. Prepare a Merchandise Purchases Budget for October, November, December, d. Prepare a Schedule of Expected Cash Disbursements for October, November, e. Prepare Cash Budgets for October, November, December, and Quarter