Weller 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 and 20% in the month following the sale.
• 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 $21,500.
• Monthly depreciation is $21,300.
• Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	22,300
Accounts receivable		83,300
Merchandise inventory		201,600
Property, plant and equipment (net of $597,000 accumulated depreciation)		1,007,000
Total assets	$	1,314,200
Liabilities and Stockholders' Equity
Accounts payable	$	196,300
Common stock		650,000
Retained earnings		467,900
Total liabilities and stockholders' equity	$	1,314,200

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.

Required: eBcok 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 CRequired DRequired E Prepare Cash Budgets for November and December November December Cash disbursements for merchandise Other monthly cash expenses Total cash disburserments $ 196,300$ 263,520 21,500 $ 217,800$ 285,020 21,500 Beginning cash balanoa Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Financing Ending cash balance 22,300 22,300 22,300 22,300$ Required B Required D > Required: eBook 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 B Required Required DRequiredBE Prepare Budgeted Income Statements for November and December November ber December Sales Cost of goods sold Other monthly expenses Depreciation KRequired C Required E> 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 100 points Complete this question by entering your answers in the tabs below eBook Required A Required B Required C Required DReqd E Prepare a Budgeted Balance Sheet for the end of December Balance Sheet December 31 Assets Cash Accounts receivable Inventory Property, plant and equipment (net of accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained eamings Total liabilities and stockholders' equity K Required D RequiredE