Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations 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.
• Other monthly expenses to be paid in cash are $20,900.
• Monthly depreciation is $20,700.
• Ignore taxes.

\fPIEPEII'E a Budgeted Balance Sheet For the end {if December. Assels Cash AooourIts reoei'urable Inventory Property. plant and equipment {net of accumulated depreoiaon) Total assets Liabilities and S'tl:i-i:lth|:|l|:lersI Equity Aeoounts payable Common stool: Retained earnings Total liabiities and stoolcholders' equity 1': Required D 1lI'|.I'eller Ind ustrlal IlE'vas Corporation supplles acetylene and other compressed gases to Industry. Data regardlng the store's oper follow: - Sales are budgeted at $300000 for November, $410,000 for December. and $400,000 for January. . Collectlons are expected to be 80% In the month of sale and 20% In the month followlng the sale. . The cost of goods sold Is T3295 of sales . The company deslres an endlng merchandlse Inventoryr equal to 80% of the cost of goods sold In the followlng mo nm. . Payment for merchandise Is made In the month following the purchase. - {timer monthly expenses to be pald In cash are $20300. - Monthly depreclatlon Is $20300. . Ignore taxes. Balanm 5heet bomber-'31 Assets Cash 5 21,103- .Ilccounts receivable 32, T00- Merchandise invlentorg.r 22?, TEE Property, plant and equipment (net orF $593,009 accumulated depreciation] 1,033,!3330- 'Fotal assets $1,335,169 Liabilities and Stockholders' Equity accounts payable 5 195,?00 Corn-on stock 533,339 Retained earnings 559,450 'Fota]. liabilities and stockholders' equity $1, 335,153 Required: a. Prepare a Schedule of Expected ICash Collections for November and December. b. Prepare a Merchandlse Purchases Budget for November and December. c. Prepare Cash Budgets for November and December. d. Prepare Budgeted lncorne Statements for November and December. e. Prepare a Budgeted Balance Sheet for the end of December. Prepare Bash Budget: for November and December. Cash disbursements for merchandise 5 warns _ Other monlhly cash expens Total bash disbursemenls s 105300 _ ann-nn-nnnnnnnnnnn __ Add cash reoeip'is Less bash disbursema'lls Excess {deciency} of cash available over disbursements