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 Shareholder's Equity

Accounts payable $ $196,300$

Common shares $650,000$

Retained earnings $467,900$

Total liabilities and shareholder's 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.

$($Answer the questions as the tables appear in the picture, otherwise do not answer please$)$