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

Sales are budgeted at $330,000 for November, $350,000 for December, and $340,000 for January.

Collections are expected to be 70% in the month of sale and 30% in the month following the sale.

The cost of goods sold is 67% of sales.

The company desires an ending merchandise inventory equal to 85% 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 $22,100.

Monthly depreciation is $21,900.

Ignore taxes.

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.