Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations 6 follow: Sales are budgeted at $390,000 for November, $410,000 for December, and $400,000 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 73% 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. 59:27 Other monthly expenses to be paid in cash are $20,900. Monthly depreciation is $20,700. Ignore taxes. Balance Sheet October 31 Assets Cash 21,700 Accounts receivable 82, 700 Merchandise inventory 227, 760 Property, plant and equipment (net of $593,000 accumulated depreciation) 1, 063, 060 Total assets $ 1, 335, 160 Liabilities and Stockholders' Equity Accounts payable $ 195, 700 Common stock 580,000 Retained earnings 559, 460 Total liabilities and stockholders' equity $ 1, 335, 160 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 Assessment Tool iFrame Prepare a Schedule of Expected Cash Collections for November and December. November Decembera. 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 Prepare a Schedule of Expected Cash Collections for November and December November December Sales Schedule of Expected Cash Collections Accounts receivable November sales December sales Total cash collections Required B > Mc Graw Prev. 26 of 28 Next DELLD. 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 Prepare a Merchandise Purchases Budget for November and December, November December Budgeted cost of goods sold Total needs Required purchases Required A Required C > Graw Prev 26 of 28 Next > DELLa. 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 Prepare Budgeted Income Statements for November and December. November December Sales Cost of goods sold Other monthly expenses Depreciation Mc Grav Prev 26 of 28 Next DELL