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 79% of sales. The company desires an ending merchandise Inventory equal to 70% 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 $20,300. Monthly depreciation is $20,100. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $587,000 accumulated depreciation) Total assets $ 21,1ee 82,100 182,490 997, eee $1,282,690 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 195,180 520, eee 567,590 $1,282,690 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 B Required C Required D Required E Required A Required B Required C Required D Required E Prepare a Budgeted Balance Sheet for the end of December. Balance Sheet December 31 Assets 171.540 Cash Accounts receivable Inventory Property, plant and equipment (net of accumulated depreciation) Total assets $ 171.540 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity SO