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 80% in the month of sale and 20% in the month following the sale.
• The cost of goods sold is 70% 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 $21,300.
• Monthly depreciation is $21,100.
• Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	22,100
Accounts receivable		83,100
Merchandise inventory		161,700
Property, plant and equipment (net of $595,000 accumulated depreciation)		1,005,000
Total assets	$	1,271,900
Liabilities and Stockholders' Equity
Accounts payable	$	196,100
Common stock		630,000
Retained earnings		445,800
Total liabilities and stockholders' equity	$	1,271,900

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.