Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow . Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 74% of sales. The company desires an ending merchandise inventory equal to 75% 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 $22,400. Monthly depreciation is $22,200. Ignore taxes. . . Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment (net of $606,080 accumulated depreciation) Total assets $ 23,260 84,280 199,800 1,016, eee $1,323,200 Liabilities and Stockholders' Equity Accounts payable Conmon stock Retained earnings Total liabilities and stockholders' equity $ 197,200 610,000 516,800 $1,323,280 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 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 $ 0 $ 0 November December Budgeted cost of goods sold 0 Total needs 0 Required purchases $ 0 $ November December Cash disbursements for merchandise Other monthly cash expenses Total cash disbursements $ 0 $ 0 0 0 Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Financing Ending cash balance 0 0$ 0 Prepare Budgeted Income Statements for November and December. November December Sales Cost of goods sold 0 0 Other monthly expenses Depreciation $ 0 $ 0 Prepare a Budgeted Balance Sheet for the end of December Balance Sheet December 31 Assets Cash Accounts receivable Inventory Property, plant and equipment (net of accumulated depreciation) Total assets 0 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 0