Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow . Sales are budgeted at $340,000 for November, $360,000 for December, and $350,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 80% of sales. The company desires an ending merchandise inventory equal to 75% 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 $20,200. Monthly depreciation is $20,000. Ignore taxes. . Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $586,88 accumulated depreciation) Total assets $ 21,88e 82,88 284,88e 996,88e $1,303,98e Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $ 195,80 518,886 598,88e $1,303,98e Total liabilities and stockholders' equity Requlred 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