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

Sales are budgeted at $390,000 for November, $410,000 for December, and $400,000 for January.

Collections are expected to be 80% in the month of sale and 20% in the month following the sale.

The cost of goods sold is 73% 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 $20,900.

Monthly depreciation is $20,700.

Ignore taxes.

Part D:

Part E:

Thanks for the help!

Weller Industrial Gas Corporation supplies acetylene and other compressed gases to Industry. Data regarding the store's oper follow Sales are budgeted at $390,000 for November, $410,000 for December, and $400,000 for January. Collections are expected to be 80% in the month of sale and 20% In the month following the sale The cost of goods sold is 73% 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 followng the purchase. . Other monthly expenses to be pald In cash are $20,900. . Monthly depreclation is $20,700 . anore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $593,8ee accumulated depreciation) Total assets $ 21,788 82,788 227,768 1,803,eee $1, 335,168 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 195,700 588,808 559,468 $1,335,168 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. Complete this question by entering your answers in the tabs below. Required A Required BRequired C Required DRequired E Prepare Cash Budgets for November and December. November December Cash disbursements for merchandise Other monthly cash expenses Total cash disbursements 195,700 195,700 S Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements